World News
Crude Prices End the Month Soft
by Tim Bonett, 
Wednesday February 28, 2018
A bigger build than anticipated along with soaring oil production weighed heavily on the market today.
US crude inventories rose almost a million barrels more than expected and gasoline inventories rose when a draw was anticipated.
There is growing concern that the continued churn out of US oil will nullify the results of OPEC's agreement.
Further adding to the pressure on oil were deflated economic figures out of the Far East.
Bunker prices were softer in the primary ports.
WTI APR $61.64/BBL DOWN -$1.37/BBL
Brent APR $65.78/BBL DOWN -$0.85/BBL
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 655.50 | 2.00 | 808.50 | 4.50 |
| Rotterdam | 619.00 | 0.00 | 789.00 | 8.00 |
| Houston | 628.50 | 7.50 | 812.50 | 1.50 |
| Fujairah | 653.50 | 4.50 | 900.00 | 2.50 |
| Global 20 Ports Average | 672.00 | 0.50 | 885.00 | 7.00 |
| Global 4 Ports Average | 639.00 | 2.50 | 827.50 | 2.00 |
| Global Average Bunker Price | 727.50 | 1.50 | 933.50 | 5.00 |
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