World News
Crude Futures Start the Week Firm
Crude oil has been soft for quite some time, bolstered by a worldwide supply glut, and weak economic outlook in the Far East.
Despite the norm, crude futures finished firm after falling to their key support levels in early trading.
Geopolitical tensions from the act of terror in Paris, last Friday, remain a fluid situation that bunker buyers should pay attention too.
The current crude production is far out of balance with crude consumption; which is ultimately going to keep pressure on oil prices.
Brent front month contracts for January delivery settled up $0.16 cents per barrel after witnessing an intraday low of $43.15 per barrel.
WTI contracts firmed up $1.00 per barrel after teetering just above $40.00 per barrel earlier in the day.
Bunkers were mostly steady 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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