World News
Ongoing Speculation Keeps Crude on the Rise
by Mohammed Marzuq, 
Thursday February 25, 2016
Crude futures opened the day in a softer state.
Both front month benchmarks fell $1.00 USD per barrel but then quickly reversed nearing day's end.
Continual speculation that OPEC members and Russia would eventually come to agreement on capping production to January levels was the main driver in the market.
The freeze-meeting is supposedly scheduled for March but the details have yet been reported.
Bunkers were softer in early trading but firmed by the end of the day with correlation to crude prices.
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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