World News
WTI Back Under $30 as Crude Futures Continue to Slide
by Mohammed Marzuq, 
Monday February 8, 2016
Crude slid back into the red today as market participants saw little hope from the Venezuelan/OPEC meeting over the weekend.
The last several weeks we have seen heavy volatility in crude prices, swings up to 8% were the norm as speculators drove up prices on bets that crude kingpins would be closing in on a deal to help alleviate the pressures on the market.
Both Brent and WTI contracts softened nearly 4% as the realization of a deal faded off.
The bunker markets were extremely quiet today being affected by the Chinese New Year but nevertheless prices were soft across the board.
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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