World News
Oil Benchmarks Down as Brexit Talk Rattles Markets
by Tim Bonett, 
Tuesday June 14, 2016
All eyes are on Brexit despite some positive signs that oil continues to rebalance.
Almost half of potential voters polled said they were likely to vote for the exit while only 40% polled wanted to stay in the EU.
The concern over Britain’s exist has rattled markets and made the US dollar a safe-haven until the picture becomes more clear.
These concerns have put pressure on benchmarks even though the EIA has reported that the 2 year supply glut has been wiped out due to recent outages.
Bunker prices were somewhat soft in the primary ports.
WTI July $48.49/bbl (Down -$0.39/bbl)
Brent August $49.83/bbl (Down -$0.52/bbl)
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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