World News
Crude Futures See Small Gains on EIA Outlook
by Mohammed Marzuq, 
Tuesday November 10, 2015
Crude futures were up slightly today after EIA outlook report projected cuts by more than 20% in oil investments this year and that this trend will follow suit into next year.
Although prices were in the green they were curbed from any significant gains on the expectation that U.S. inventories would incur another build.
It should be no surprise that crude futures were up slightly after consecutive trading sessions in the red.
From a broad perspective we can assume that prices have not yet reached the bottom as global supply far exceeds demand. Bunkers were mostly steady today in the primary ports.
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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