World News
Crude Slips Despite Draw in US Stocks
by Mohammed Marzuq, 
Wednesday December 9, 2015
Surprisingly, crude futures ended slightly lower today after EIA data showed the first draw in over 2.5 months in U.S. commercial crude stocks.
U.S. distillates saw a massive build of 5 million barrels which helped curb crude futures from swinging upwards.
As we near year end, refineries tend to use more crude on hand so they incur a lessor tax burden on their inventories.
We can expect crude inventories to rise again after the New Year with the current imbalance in supply and demand.
Bunkers were steady in the primary ports today.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 510.00 | 2.50 | 611.00 | 4.00 |
| Rotterdam | 477.00 | 1.00 | 618.50 | 4.00 |
| Houston | 469.50 | 0.50 | 610.00 | 2.00 |
| Fujairah | 501.50 | 1.50 | 708.50 | 3.50 |
| Global 20 Ports Average | 532.00 | 2.00 | 711.50 | 0.00 |
| Global 4 Ports Average | 489.50 | 0.50 | 637.00 | 0.50 |
| Global Average Bunker Price | 571.00 | 1.00 | 759.00 | 0.50 |
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