World News
Crude Benchmarks Near the $50/bbl Level
by Tim Bonett, 
Tuesday May 17, 2016
The creek continues to rise as falling production and increased demand have benchmarks nearing the $50/bbl level.
Prices have regained more than 80% from the 12 year bottom experienced earlier this year.
Demand is increasing from China and output disruptions have indicated that tomorrows inventory report will show a draw in crude stockpiles.
Bunkers prices continue to firm in the primary ports.
WTI June $48.31 /bbl Up $0.59
Brent July $49.28 /bbl Up $0.31
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.00 | 770.00 | 5.00 |
| Rotterdam | 602.50 | 1.00 | 762.00 | 2.50 |
| Houston | 630.50 | 4.00 | 796.50 | 2.50 |
| Fujairah | 648.50 | 0.50 | 900.00 | 4.50 |
| Global 20 Ports Average | 666.00 | 2.00 | 856.00 | 1.00 |
| Global 4 Ports Average | 632.50 | 0.50 | 807.00 | 1.00 |
| Global Average Bunker Price | 715.50 | 1.00 | 893.00 | 8.00 |
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