World News
US Crude Inventories Fall Three Times the Expected Amount
by Tim Bonett, 
Wednesday December 11, 2013
The EIA reported today that US crude inventories fell 10.6 million barrels, more than three times the expected amount.
However, this was not enough to boost WTI as gasoline and distillate stockpiles climbed by gains not seen since January 4th.
Refineries continue to operate near peak levels and the build in product inventories deterred investors from WTI crude, bringing it down from it's recent six-week high mark and reversing the recent narrowing trend of the WTI/Brent spread.
By the end of the day WTI had fallen $1.07 to settle at $97.44/bbl. Brent gained $0.32, to finish the day at $109.70. Bunker prices were stable in the primary markets.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
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