World News
Mixed Day for Crude Futures
by Tim Bonett, 
Tuesday May 31, 2016
The first unofficial trading day of summer brought a mixed bag of goods to the market.
Investors are expecting another drawdown in crude stockpiles this week while consumer spending has been robust ahead of the summer driving season.
On the other side of the spectrum was concern over a market share battle brewing in the middle east and with about 5 million barrels to come into the market from Iraq alone.
Bunker markets were stable to soft in the primary ports.
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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