World News
Bunker Prices Inch Up as WTI Makes Gains
by George Belekos, 
Wednesday November 6, 2013
Elections in the United States increased optimism in the economies of the world as WTI increased today.
In reality a steep decline in gasoline inventories had bunker prices inching up with WTI increasing the most it has in one day since October 2.
The increase in bunker prices was tamed by Brent which was down very slightly.
Distillates inventories also declined more than anticipated, with crude inventories increasing as expected.
It is not unreasonable to expect prices to continue to rise the balance of the week being driven largely by gasoline prices.
Bunker buyers should clear their near term bunker purchases, though we expect this increase to be short lived and longer term purchases should be held out for now.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
Popular Now More
-
Apr 23Initial Ship & Bunker analysis shows ships would need to use between 17.6% and 23.3% biofuel in B100 terms to avoid penalty charges in 2028. -
Apr 24Suppliers in South Korea are already shifting to the use of MFMs, and barge fees are likely to rise in the country as a result, a local source tells Ship & Bunker. -
Apr 24FincoEnergies has partially acquired the business operations of bunker supplier Oliehandel Klaas de Boer.