World News
Crude Markets Start the Week Moving Up
Crude markets started the week moving up after talks between Iran and six world powers ended in Geneva with no agreement on the country's nuclear program.
The news supported prices, as investors saw less of a chance that sanctions against Iran would ease anytime soon which would allow their crude to enter the marketplace and increase supplies.
In the states, WTI received some extra support today as many anticipate crude demand should increase as units come back online from seasonal maintenance.
Stockpiles have been rising in recent weeks and many are now eying this week's report for the latest supply & demand picture.
WTI rose $0.54 and settled at $95.14, while Brent gained $1.28 to end the session at $106.40. Bunker prices followed crude and firmed 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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