World News
Crude Futures Soften to 3 Week Low
by Mohammed Marzuq, 
Wednesday October 21, 2015
Crude futures softened to 3 week lows today after EIA data showed a build of 8 million barrels in U.S. crude inventories.
Despite the bearish crude markets, distillates showed a surprising draw back of nearly 2.5 million barrels which helped curb crude futures from a complete sell off today.
NYMEX contracts for December delivery settled down 2.5% while ICE contracts for December delivery settled down 1.8%.
Bunkers were mostly soft today but we witnessed some volatility in the gasoil markets.
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 |
Popular Now More
-
Jun 05Marex's Bastien Declercq discusses how biofuel markets are likely to react to the IMO's new GHG regulation. -
Jun 04The MPA has not directly given a reason for declining to renew the licence. -
Jun 02The new joint venture will initially focus on biofuel supply in northern Europe, BlackCoral Energy Managing Partner Jesper Christensen tells Ship & Bunker.