World News
Bunker Prices Firm as Crude Rises
Bunker prices were firmer in the primary ports today, following the tick up in crude benchmarks on news out of Libya.
Reports stated that Libyan crude would not enter the global marketplace as originally expected after Ibrahim al-Jathran allegedly stated that oil terminals would not be opened because his demands were not met.
Unrest in Libya has kept some export terminals closed, reducing the country's output from its spring levels.
Prices felt some extra support as investors expect the two-day Federal Reserve meeting to result in the central bank's stimulus efforts remaining unchanged.
The current bond-purchasing program has kept crude prices up by weakening the dollar, making crude an attractive alternative investment for those holding other currencies.
Investors will also look to this week's inventory report for a look at U.S. supply & demand.
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 |
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