World News
Crude Markets Mixed as EIA Reports Larger-than-Expected Gains in Crude Supplies
Crude markets were mixed today on fundamentals after the EIA reported larger-than-expected gains in crude supplies and Libyan production remained low.
This morning the EIA released their weekly inventory report on U.S. Supplies, showing nationwide gains of approximately 4.1 million barrels of crude, exceeding projections by most analysts.
Cushing gains last week totaled 2.2 million barrels, the biggest weekly gain since December 2012, as Gulf Coast refiners draw less from the hub during their maintenance season.
Across the pond, Brent increased today as Libyan output still hasn't bounced back from the most recent shutdown.
Prices ended up being little affected after the Federal Reserve stated that it will maintain its stimulus program.
WTI fell $1.43 to settle at $96.77/bbl, while Brent gained $0.85 to end the session at $109.86/bbl. Bunker prices remained stable in the primary ports
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 4.50 | 617.00 | 5.50 |
| Rotterdam | 457.50 | 2.50 | 623.50 | 6.50 |
| Houston | 469.00 | 3.50 | 623.00 | 2.00 |
| Fujairah | 494.50 | 6.50 | 715.50 | 5.50 |
| Global 20 Ports Average | 526.00 | 3.00 | 712.50 | 11.50 |
| Global 4 Ports Average | 481.00 | 4.00 | 645.00 | 4.50 |
| Global Average Bunker Price | 569.00 | 2.00 | 750.00 | 5.50 |
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