World News
Crude Futures Slide to Near 7-Year Lows
by Mohammed Marzuq, 
Monday December 7, 2015
Crude futures took the path of least resistance today after OPEC’s Vienna meeting last Friday which fostered no production cuts to help resuscitate the current market.
Brent and WTI futures softened nearly 6% hitting 7 year lows on the worry of continual oversupply and a firming U.S. dollar which caught support after positive U.S. job data came to light.
It's difficult to predict if we have bottomed as western sanctions on Iran are now dead ahead on the horizon and closing.
Fuel oil and distillates were very soft today across the board.
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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