World News
Crude Slides Almost 5%, WTI Drops Under $40/bbl
by Mohammed Marzuq, 
Wednesday December 2, 2015
Oil prices dumped nearly 5% today as both WTI and Brent benchmarks sank near August lows.
EIA figures showed U.S. crude inventories witnessed a build of 1.2 million barrels which helped trigger the sell off after OPEC leading Saudi Arabia gave a hint that its unlikely they will be cutting back production.
The OPEC meeting is taking place this Friday and it should be very interesting. Bunkers were soft today across the board.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 510.00 | 2.50 | 611.00 | 4.00 |
| Rotterdam | 477.00 | 1.00 | 618.50 | 4.00 |
| Houston | 469.50 | 0.50 | 610.00 | 2.00 |
| Fujairah | 501.50 | 1.50 | 708.50 | 3.50 |
| Global 20 Ports Average | 532.00 | 2.00 | 711.50 | 0.00 |
| Global 4 Ports Average | 489.50 | 0.50 | 637.00 | 0.50 |
| Global Average Bunker Price | 571.00 | 1.00 | 759.00 | 0.50 |
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