World News
Crude Futures Jump as President Trump Signals Weeks of Iran Strikes Ahead
Crude futures rose sharply on Thursday morning after US President Donald Trump signalled that military action against Iran is set to continue for two to three weeks, raising concerns over prolonged disruption to global oil supply.
The ICE June Brent contract traded at $107.04/bl as of 6:11 AM in London, up by $5.88/bl from a settlement of $101.16/bl on Wednesday.
“We are on track to complete all the objectives, President Trump said in his address to the nation on Wednesday.
“We are going to hit them hard in the next two to three weeks and send them back to the Stone Age where they belong.”
He added that the US won’t import oil from the Strait of Hormuz in the future.
Trump also threatened that the US would target Iranian power plants if no deal is reached.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 873.50 | 5.50 | 1811.50 | 61.50 |
| Rotterdam | 716.50 | 29.50 | 1331.50 | 32.00 |
| Houston | 903.50 | 5.50 | 1294.50 | 45.50 |
| Fujairah | 841.50 | 28.00 | 1705.00 | 30.50 |
| Global 20 Ports Average | 957.50 | 7.50 | 1692.00 | 2.00 |
| Global 4 Ports Average | 833.50 | 11.50 | 1535.50 | 23.00 |
| Global Average Bunker Price | 1011.50 | 4.00 | 1677.00 | 28.00 |
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