World News
Crude Futures Jump on Speculation Over Potential US Strikes on Iran
Crude futures jumped on Wednesday morning amid signs the US may be preparing for military strikes on Iran.
Some personnel had been advised to leave the US military's Al Udeid Air Base in Qatar by Wednesday evening, news agency Reuters reported on Wednesday, citing three diplomats with knowledge of the situation.
The report also cited an Israeli official as saying President Donald Trump appears to have decided to intervene in support of anti-government protests in Iran. Iran's government has warned neighbouring countries hosting US troops that it would retaliate against American bases in the event of US intervention.
ICE March Brent futures traded at $66.34/bl as of 10:59 AM in London on Wednesday, up from $65.47/bl at the previous day's close and from as little as $64.68/bl earlier on Wednesday morning. The contract has gained $6.38/bl over the past week in response to increasing tensions in Iran.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 438.50 | 7.00 | 616.50 | 9.00 |
| Rotterdam | 426.00 | 4.50 | 637.50 | 9.50 |
| Houston | 438.00 | 16.00 | 617.00 | 17.50 |
| Fujairah | 434.50 | 5.50 | 725.00 | 6.00 |
| Global 20 Ports Average | 472.00 | 6.00 | 721.00 | 5.50 |
| Global 4 Ports Average | 434.50 | 8.50 | 649.00 | 10.50 |
| Global Average Bunker Price | 502.50 | 3.50 | 759.00 | 3.00 |
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