World News
Crude Prices Soar on U.S. Seasonal Driving Demand, Expectations of Falling Production
by Mohammed Marzuq, 
Tuesday June 9, 2015
Crude prices soared today on seasonal driving demand and expectations of falling U.S. production.
A weaker dollar also supported crude, as any weakness in the dollar encourages buying in dollar-priced commodities, making it cheaper to holders of other currencies.
Both crude benchmarks saw gains well over 2% making bunkers firm in the primary ports.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 512.00 | 2.00 | 621.00 | 10.00 |
| Rotterdam | 479.00 | 2.00 | 623.50 | 5.00 |
| Houston | 480.50 | 11.00 | 627.50 | 17.50 |
| Fujairah | 502.50 | 1.00 | 711.50 | 3.00 |
| Global 20 Ports Average | 532.50 | 0.50 | 715.50 | 4.00 |
| Global 4 Ports Average | 493.50 | 4.00 | 646.00 | 9.00 |
| Global Average Bunker Price | 570.50 | 0.50 | 761.00 | 2.00 |
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