Bunker prices will go irregular - forecast
Bunker prices will go irregular. This forecast is provided to Portnews by Marine Bunker Exchange.
|
Product |
380 cSt HSFO |
380 cSt LSFO |
|
|
|
|
|
Rotterdam 2013-01-03 |
597 |
624 |
|
Rotterdam 2012-01-03 |
634 |
684 |
|
|
|
|
|
Gibraltar 2013-01-03 |
611 |
656 |
|
Gibraltar 2012-01-03 |
647 |
730 |
|
|
|
|
|
St Petersburg 2013-01-03 |
505 |
565 |
|
St Petersburg 2012-01-03 |
410 |
505 |
|
|
|
|
|
Panama Canal 2013-01-03 |
654 |
- |
|
Panama Canal 2012-01-03 |
676 |
- |
|
|
|
|
|
Busan 2013-01-03 |
643 |
816 |
|
Busan 2012-01-03 |
715 |
- |
|
|
|
|
|
Fujairah 2013-01-03 |
606 |
- |
|
Fujairah 2012-01-03 |
695 |
- |
All prices stated in USD / Mton
All time high Brent= $147.50 (July 11, 2008)
All time high Light crude (WTI)= $147.27 (July 11, 2008)
|
Product |
Close Jan.02 |
|
Light Crude Oil (WTI) |
$93.12 |
|
Brent Crude Oil |
$112.47 |
The «Fiscal Cliff» in the US is temporarily over until the end of February. The automatic tax increases and spending cuts that threatened the nation's economic recovery. The accord won't reduce deficits enough to avoid a sovereign rating downgrade, Moody's Investors Service said yesterday.
What will happen to the oil prices for 2013? - The world economy is probably close to its lowest level and a slow increase of productivity is expected in the US and Europe. The Brent crude oil ended its average price for 2012 around $ 111 per barrel. Brent crude oil prices have been caught in an increasingly narrow range, where they are high enough to motivate supply, but not so high as to undermined the global economic recovery. But if taking the limited spare capacity of OPEC and the ongoing tensions between Iran and West over Iran's nuclear program, which could escalate during 2013 and oil prices could then increase to an unpleasant level for the world economy. - While geopolitical tensions were generally considered the biggest threat to higher oil prices given the muted global economic growth anticipated for the coming year, any easing in tensions would likely also result in lower prices. The areas of concern are in the Middle East, with the increased violence in Syria, and the ongoing problems in Iraq and Iran, which are all price supporting factors.
For 2013 we estimate that Brent crude oil will continue to trade within $95 - $120 a barrel. The WTI we like to wait with our forecast since Cushing await the development of the excess capacity to be transported to the US Gulf Coast, when the Seaway pipeline ramps up from its current capacity of 150 000 b/d to its full capacity of 400 000 b/d in early 2013.
Expect very little change for next week.