World News
Crude Trades Flat as Goldman Sachs Cuts its Oil Price Forecast
by Tim Bonett, 
Monday October 27, 2014
Oil was trading considerably lower to start the morning as WTI was below the $80/bbl mark for the second time this month.
Goldman Sachs cut its oil price forecast for the first quarter of 2015 by $15/bbl for both Brent and WTI.
However, traders may have been closing out bets that the market would continue to fall as prices rebounded to end the day relatively flat.
Today's weak dollar fueled much the market's bounce back. Bunker prices were relatively stable while preferable!
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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