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Lower Oil Prices Bode Well for Tanker Industry

Crude Tanker Fundamentals Remain Strong

(Continued from Prior Part)

Crude oil prices

Brent crude oil prices fell to $48.9 per barrel on October 20, 2015, from $49.8 on October 13 and $51.9 on October 6. Crude oil prices have a direct impact on bunker fuel prices.

Bunker prices

Bunker fuel prices, the biggest cost to run a ship, are positively correlated to crude oil prices (DBO). On October 19, 2015, the average bunker fuel price was recorded at $287 per metric ton, compared to $296 per metric ton last week and $291 per metric...