Bunker Market this morning 29th July!
Oil prices settled down nearly 2 percent on Thursday, hitting April lows and with U.S. crude headed for its biggest monthly loss in a year, on growing worries that the world was pumping more crude than needed.
WTI closed yesterday down 2 percent, the biggest monthly loss in a year.
Brent was not too well either, which fell 77 cents, or 1.8 percent, the lowest since April 18.
Surplus barrels of gasoline already have made the glut developing in oil this year more worrisome since there are negative side effects, compared to crude oversupply.
U.S. Gulf Coast gasoline stocks hit record highs last week for the month of July while East Coast inventories reached all-time peaks, government data showed on Wednesday.
Oil Future close 28th July:
Brent: $42.7(-0.77) pbr
WTI: $41.14(-0.78) pbr
MGO: $ 373.75(-8.5)/mton
NY Harbor Ulsd: $391.11(-7.57)/mton
Oil Future at GMT 06.01 Brent and WTI are both down about 10 cents.
Expect bunker market extending the downward trend based on Oil Future close yesterday.