World News
WTI and Brent Crude Futures Firm
by George Belekos, 
Wednesday March 9, 2016
WTI and Brent crude oil prices firmed during the days trading on a 4.5 million barrel draw in gasoline inventories.
Analysts were expecting a build in crude oil stocks, but this massive draw in gasoline inventories sent the entire energy complex surging, up nearly five percent.
There is still a lot of speculation surrounding OPEC and non-OPEC member's intentions with supply output.
Bunker buyers should be aware that these discussions will cause a lot of volatility in both directions, near term.
Non-OPEC members are trying to setup a second half of the year recovery with crude oil prices, as long as demand and geopolitical conditions cooperate. Bunker prices were firm today 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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