World News
Crude Down for Third Straight Trading Day
by George Belekos, 
Tuesday May 3, 2016
Speculators are anticipating a large build in crude inventories tomorrow which sent prices into the red for a third straight trading day.
Weaker oil demand coming out of China and a stronger dollar further weighed on prices throughout the day.
There is an expectation of 1.2 million barrel build when the EIA report is released tomorrow.
The market direction will depend heavily on which side of this expectation the report falls on.
Bunker prices were softer 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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