World News
Crude Soft, WTI Falls Back Under $50/bbl
by Tim Bonett, 
Wednesday October 4, 2017
The discount of WTI to Brent has been quite attractive to buyers outside of the US as crude exports have jumped to a record 2 million barrels per day.
This figure spooked the market today and sent prices lower.
There is concern that US exports will severely undermine OPEC's efforts to reduce supply.
However, the EIA reported a 6 million barrel draw in crude, much larger than expected, which limited the damage to oil.
Bunker prices were softer in the primary ports.
WTI Nov $49.98/BBL DOWN -$0.44/BBL
Brent Nov $55.80/BBL DOWN -$0.20/BBL
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 655.50 | 2.00 | 808.50 | 4.50 |
| Rotterdam | 619.00 | 0.00 | 789.00 | 8.00 |
| Houston | 628.50 | 7.50 | 812.50 | 1.50 |
| Fujairah | 653.50 | 4.50 | 900.00 | 2.50 |
| Global 20 Ports Average | 672.00 | 0.50 | 885.00 | 7.00 |
| Global 4 Ports Average | 639.00 | 2.50 | 827.50 | 2.00 |
| Global Average Bunker Price | 727.50 | 1.50 | 933.50 | 5.00 |
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