World News
Crude Futures Trade Lower After Weekend of Geopolitical Turmoil
Crude futures were trading lower than Friday's close early on Monday morning, despite a weekend of turmoil in the Middle East.
The ICE June Brent contract traded at $90.22/bl as of 5:56 AM in London on Monday, down from $90.45/bl at Friday's close.
At the start of the weekend there had been widespread concerns over an impending attack on Israel by Iran.
Iranian forces seized the boxship MSC Aries near the Strait of Hormuz early on Saturday morning, citing an ownership link to Israel.
Iran went on to fire more than 300 drones and missiles towards Israel on Saturday night, of which Israel said 99% were intercepted. One injury from shrapnel was reported, as well as damage to an airbase.
The Brent crude price remains near its recent high of $91.17/bl on April 5, which had been its highest closing level since June 2022.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
Popular Now More
-
Apr 29The company is looking for candidates with experience in negotiating deals and a functional understanding of vessel and bunkering operations. -
Apr 29Peninsula has signed a letter of intent with Unimot Paliwa setting out plans to cooperate on bunker supply at Gdansk and Gdynia. -
Apr 29The two companies recently arranged the supply of a B100 HVO product to a seismic survey vessel at Algeciras.