World News
Crude Continues on Downward Trend
by Tim Bonett, 
Tuesday March 15, 2016
Crude continued the downward trend today as the weight of OPEC uncertainty and ballooning stockpiles pulled benchmarks further south.
OPEC members do not seem to be able to coordinate a production freeze while analysts are anticipating another record high in crude inventories tomorrow.
The market will be watching the EIA data and also comments coming from the Federal Reserve for tomorrow's trajectory. Bunker prices were softer 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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