Bunker Market this evening 7th April!
At previous close the oil market rose almost $2 a barrel. During today's intra trading Brent reached high $40.29 a barrel, and closed at $39.43 down 41 cents. WTI closed at $37.26(-0.49).
The market is waiting for the Doha meeting April 17th, where OPEC members and Russia will meet to discuss a production freeze. Iran has declared they will not accept a freeze on their present production level because too low due to sanctions. Saudi Arabia is indicating no freezing deal if Iran does not agree to freeze their production.
Expect bunker market to be volatile between $35 -40 a barrel for another 10 days. Tomorrow we can expect bunker prices to edge downward.