World News
Crude Benchmarks Take Another Nosedive, US Crude Under $27 for the 1st Time Since 2003
by Tim Bonett, 
Wednesday January 20, 2016
Benchmarks took another nosedive today as broader equities and assets fell across the board.
US crude plummeted 6.7% and settled below the $27 mark for the first time since 2003.
The battle remains for world market share amongst the key producers who shrugged off a request from Venezuela to hold an emergency OPEC meeting.
All major indexes around the world saw significant declines today only exacerbating the selloff in oil.
The forecast doesn't provide much hope from a prop up in pricing as stockpiles are expected to have risen last week.
Bunker buyers can expect to continue to see favorable pricing.
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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