World News
Oil Prices Fall Further as the Market Searches for Bottom
by Tim Bonett, 
Monday December 8, 2014
Oil prices fell further today as the market searches for bottom.
Iraq cut prices of its crude-oil blend for Asian and American buyers signaling that it is protecting its market share.
This followed a similar move by Saudi Arabia earlier this month.
WTI is approaching a price level that some fear is marginal cost for oil companies.
The good news is that bunker prices remain headed in the buyers favor. Prices were soft in the primary ports.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 523.00 | 7.50 | 685.00 | 7.50 |
| Rotterdam | 518.50 | 2.00 | 728.00 | 5.00 |
| Houston | 496.50 | 0.50 | 701.50 | 1.50 |
| Fujairah | 516.50 | 5.50 | 732.50 | 1.50 |
| Global 20 Ports Average | 554.00 | 3.50 | 779.00 | 6.50 |
| Global 4 Ports Average | 513.50 | 4.00 | 712.00 | 1.00 |
| Global Average Bunker Price | 590.50 | 4.50 | 820.00 | 4.00 |
Popular Now More
-
Jul 11The firm sold more than one million mt of marine fuels in Singapore in 2024. -
Jul 11The ship was built in 2008 and came to Singapore earlier this month after previously visiting Taiwan and China. -
Jul 10CEO Carsten Ladekjær said the firm will adapt to new changes in the fast-changing market.