World News
Crude Futures Start the Year Down
by Mohammed Marzuq, 
Monday January 4, 2016
Crude futures ended down today after spiking well over 4% earlier on.
Tensions between Saudi Arabia and Iran sparked a premium on both benchmarks as speculators feared supply restrictions due to the uncertain diplomatic ties between these two oil power houses.
By the end of the day both ICE and NYMEX markets leveled off due to more problematic short term issues including, but not limited too, weak economic data out of China, a sell off in equities, and indications that U.S. commercial crude stocks incurred another build last week.
Bunkers were firm in the primary ports most of the day but leveled off as crude softened.
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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