World News
Crude Down After EIA Report
by Tim Bonett, 
Wednesday March 30, 2016
Crude trading started the day off strongly as broader equities were at 3-month highs and the US dollar was moving in a weaker direction.
However, this mornings EIA report took the foot off the gas pedal as inventory figures did not meet market expectations.
We had another week of builds but only slightly more than half the expected amount.
The talk of an OPEC freeze received a dowsing of cold water out of the Middle East and by the end of the session crude had come back down to settle flat.
Bunker prices were firm throughout the morning hours and were reluctant to come off as the market started to recede.
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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