World News
Crude Futures Sink as President Trump Reports 'Productive' Talks With Iran
Crude futures sank sharply on Monday morning following President Trump reporting 'very good and productive' reconciliation talks between his country and Iran.
The ICE May Brent contract traded at $100.49/bl as of 11:14 AM in London, having traded as high as $114.26/bl earlier in the day and compared to Friday's close at $112.19/bl.
US President Donald Trump ordered a five-day postponement of any strikes against Iranian energy infrastructure in a social media post on Monday, following talks with Iran.
"The United States of America and the country of Iran have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East," President Trump said.
"I have instructed the Department of War to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five-day period, subject to the success of the ongoing meetings and discussions."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 1015.50 | 54.50 | 1822.50 | 50.50 |
| Rotterdam | 847.50 | 32.00 | 1358.50 | 71.00 |
| Houston | 836.50 | 20.00 | 1315.50 | 11.00 |
| Fujairah | 1074.50 | 29.50 | 1744.50 | 53.00 |
| Global 20 Ports Average | 1053.00 | 4.50 | 1601.50 | 0.00 |
| Global 4 Ports Average | 943.50 | 18.00 | 1560.00 | 11.00 |
| Global Average Bunker Price | 1068.00 | 19.00 | 1532.00 | 7.00 |
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