Contact your team
360o

Market
update

28-05-2015

Crude Futures Tank as the U.S Dollar Makes Significant Gains

It should be noted that the next few weeks shall be interesting and we expect levels to sink as we near the Iran deal.

Crude futures tanked today as the U.S dollar saw significant gains compared to other currencies.

Brent front-month contracts for July softened by $1.65 per barrels settling in at a cool $63.72.

WTI contracts for July softened by $1.69 per barrel settling at $58.03.

There seems to be concern that the consistent rising of crude prices these past 2 months would entice U.S producers to go online, which in turn would cause an excess supply.

Information has surfaced that the termination of rig operations has slowed and that crude prices in the $60 range would be profitable to U.S players.

It should be noted that the next few weeks shall be interesting and we expect levels to sink as we near the Iran deal.

Bunkers were mostly soft 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