World News
Heavy Volatility for Crude Futures
by Mohammed Marzuq, 
Monday December 14, 2015
Crude futures saw heavy volatility early in the trading day after falling nearly 4% in early morning trade.
Both WTI and Brent contracts curbed all loses due to short covering after a 13% fall in the last 6 sessions.
Brent contracts for January delivery nearly hit 2004 lows on continual oversupply worry.
The expectation in the short term is that Iran sanctions will be lifted in early January which could dump another 700K barrels in an oversaturated market.
WTI front month contracts settled $0.69 cents higher at $36.31 per barrel by days end.
The outlook for crude is still bearish and we can expect prices to stay down for quite some time.
Bunkers were mostly steady 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 |
Popular Now More
-
Jun 05Marex's Bastien Declercq discusses how biofuel markets are likely to react to the IMO's new GHG regulation. -
Jun 04The MPA has not directly given a reason for declining to renew the licence. -
Jun 02The new joint venture will initially focus on biofuel supply in northern Europe, BlackCoral Energy Managing Partner Jesper Christensen tells Ship & Bunker.