Contact your team
360o

Market
update

30-07-2015

Crude Prices Edge Upwards

The overall consensus in the market was that there would be a significant draw in U.S inventories but not at the level we witnessed today.

Both the ICE and NYMEX markets traded in the green today after a Dow Jones report stated that Saudi Arabia will cut back production by 300k barrels per day after the summer season, this was coupled with EIA data showing that U.S crude inventories incurred a 4.2 million barrel draw last week.

Brent front-month contracts for September firmed up $0.08 cents settling at $53.38 per barrel while WTI contracts for September delivery were up $0.81 cent per barrel settling at $48.79.

The overall consensus in the market was that there would be a significant draw in U.S inventories but not at the level we witnessed today.

Although prices swung into the green, they did not firm like we have witnessed before on big draws.

Bunkers were mostly steady today in the primary ports.


Latest
news

30-05-2018

What's Next: a glance into the future of shipping

21-09-2017

First Voyage for European LNG Bunker Tanker

Skangas duel fuel LNG carrier Coral Energy (image credit/Skangas) Liquified natural gas (LNG) bunker tanker Coralius has made its first trip loading and delivering LNG to and from Norwegian ports, according to trade press reports. The 5,800 cubic meter capacity tanker, which is owned by Norwegian gas company Skangas, was delivered to the company in June. Skangas also operates LNG carrier Coral Energy. "Skangas off
04-09-2017

OPEC Cutback Extension to be Discussed in November, But Developments Could Render Any Deal Meaningless

Analysts say everything from Saudi exploration to rising tensions with North Korea could radically alter the dynamics of the international market. File Image / Pixabay Ever since the Organization of the Petroleum Exporting Countries (OPEC) extended the duration of its production cuts earlier this year to March of 2018, speculation has been rampant that the meager cutback volume coupled with the large number of members
  
BMS Bunkers

360° Contact 24/7

0o
60o
120o
240o
300o