A summary of the most important developments in the bunker market, published every Friday.
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Argentina needed stable to falling bunker prices
Analysts are always looking to find what is driving things and what are the outcomes. As a side issue, the following analysis perhaps shows why our market can take some credit for the Argentinian footballing success.
The World Cup started on 20th November and in those early days Argentinian VLSFO prices were rising. In this rising market, on 22nd November, Argentina lost 2-1 to Saudi Arabia in one of the ‘shocks’ of the tournament! After this, Argentina VLSFO prices reversed and fell sharply and with it the team performance turned around with a 2-0 win against Mexico on 26th November. Prices were then broadly stable to the next match on the 30th and Argentina won 2-0 against Poland; luckily for Argentina the match wasn’t played the next day, when Argentina VLSFO prices rose to another peak and Argentina would have lost.
Prices then fell again and again, and there were two wins on the trot. The semi-final was on the 13th December and there must have been some concern in Argentina as local VLSFO prices edged up a bit, but not enough to affect a win.
Source: Integr8 Fuels
A summary of the most important developments in the bunker market, published every Friday.
This week’s Top 3 headlines:
A summary of the most important developments in the bunker market, published every Friday.
This week’s Top 3 headlines: