World News
Crude Ends the Day Higher
by George Belekos, 
Monday March 21, 2016
Crude ended the day higher on positive sentiment from a drawdown last week in stockpiles at Cushing.
The gain was modest however, as the market remains weary that US drilling could be ramped up fairly quickly in an already oversupplied market.
The OPEC meeting set for April remains in place but there have been no further movements on that front permitting crude prices to sit on shaky ground.
Bunker prices were mostly stable in the primary ports.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.50 | 1.50 | 729.00 | 9.50 |
| Rotterdam | 527.50 | 1.00 | 742.00 | 14.00 |
| Houston | 555.00 | 6.00 | 767.00 | 9.50 |
| Fujairah | 559.00 | 0.50 | 787.00 | 3.50 |
| Global 20 Ports Average | 589.00 | 1.00 | 818.00 | 14.50 |
| Global 4 Ports Average | 553.00 | 1.00 | 756.00 | 9.00 |
| Global Average Bunker Price | 616.50 | 1.00 | 838.50 | 7.50 |
Popular Now More
-
Jun 17Two crude tankers collided off the coast of Khor Fakkan early Tuesday, with reports indicating a fire broke out following the incident. -
Jun 18Jasen Butler, owner of Independent Marine Oil Services, is accused of defrauding the US military of over $5 million through fake documents. -
Jun 18Tankers linked to the Russian shadow fleet, along with Rosneft Marine UK, have been added to the UK sanctions list.