Loading…
East of Suez bunker fuel prices fell sharply, with VLSFO down $14-19/mt and HSFO380 down up to $23/mt across Singapore, Zhoushan and Fujairah. Front-month ICE Brent dropped $2.62 to $73.67/bbl on reports that Saudi Arabia and the UAE were nearing an OPEC+ deal to raise output.
Expectations of higher OPEC+ supply push crude and bunker fuel prices lower, and a deal would weigh on energy costs for shipping.
fisapp.comChris HudsonJul 15, 2021After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
