World News
Crude Futures Finish Relatively Flat After a Day of Heavy Volatility
Crude futures ended relatively flat with respect to yesterdays settle prices but endured a day full of heavy volatility.
Both WTI and Brent bench marks tanked early in the trading day to lows we have not witnessed since the financial crises of 2009, but ended up recouping some of those losses due to short coverings in the market.
There is currently no bullish data in the pipeline that will reverse the direction of current prices and we can expect oil and its derivatives to stay in the current range we have witnessed these past few weeks.
Bunkers were soft early in the day but tapered off in line with yesterdays levels.
We urge bunker buyers to take advantage of the current market to help alleviate some of the pressures they face in the freight markets.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 510.00 | 2.50 | 611.00 | 4.00 |
| Rotterdam | 477.00 | 1.00 | 618.50 | 4.00 |
| Houston | 469.50 | 0.50 | 610.00 | 2.00 |
| Fujairah | 501.50 | 1.50 | 708.50 | 3.50 |
| Global 20 Ports Average | 532.00 | 2.00 | 711.50 | 0.00 |
| Global 4 Ports Average | 489.50 | 0.50 | 637.00 | 0.50 |
| Global Average Bunker Price | 571.00 | 1.00 | 759.00 | 0.50 |
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