World News
Crude Down After Early Gains
by George Belekos, 
Wednesday September 14, 2016
Crude briefly headed north this morning when the EIA released data showing crude inventories fell despite an expected build.
However, the build in distillates was the mountain that proved too steep to overcome and benchmarks settled down 2%.
Some of the build may have been due to last weeks 14.5 million barrel draw but the majority have not shown up in the figures yet.
The question of where those barrels are will linger for atleast one more week.
Bunker prices were softer in the primary ports.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 511.00 | 11.50 | 602.50 | 10.00 |
| Rotterdam | 479.00 | 1.00 | 618.50 | 1.50 |
| Houston | 464.50 | 4.00 | 615.50 | 5.00 |
| Fujairah | 506.00 | 2.50 | 703.50 | 7.50 |
| Global 20 Ports Average | 532.00 | 4.50 | 708.50 | 4.00 |
| Global 4 Ports Average | 490.00 | 4.50 | 635.00 | 6.00 |
| Global Average Bunker Price | 570.00 | 1.00 | 752.50 | 6.00 |
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