World News
Bunker Prices Firm as Crude Prices Head North
Crude prices headed north on both sides of the Atlantic today after comments by European Central Bank President strengthened the euro and reports showed positive economic numbers in the United States.
In Europe, ECB President Mario Draghi stated that policymakers were considering keeping interest rates low, which pushed the euro higher against the dollar and drove commodity prices higher.
In the states, The Department of Labor reported that fewer Americans than forecasted filed for unemployment benefits last week.
Additionally, the U.S. Manufacturing Purchasing Managers Index rose to thing highest level since March.
Both reports gave investors optimism about the direction of the U.S. economy and crude demand to come.
By day's end, WTI rose $1.59 to settle at $95.44/bbl. Across the pond, Brent prices jumped $2.02 to end the session at $110.08/bbl. Bunker prices were firm in the primary ports.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
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