World News
Crude Futures Edge Up
by Mohammed Marzuq, 
Tuesday December 15, 2015
Crude futures caught support for the second day in a row due to short covering after both benchmarks tumbled well below the critical $40.00 per barrel mark last week.
The following days should play a pivotal role in market direction as the Federal Reserve gets ready for their meeting on the possibility of raising the current interest rates.
If rates spike then dollar denominated commodities like oil will be less attractive to holders of other currency especially in a heavily saturated market.
Brent contracts for January delivery settled up 1.5% while WTI front month contracts firmed nearly 2.9%.
Bunkers were firm today in the primary ports.
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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