The oil market is still in a state of uncertainty — with a lot of major indicators (including crude prices) in rapid flux. And news this week shows that the turbulence is far from over. With one major crude indicator hitting an all-time low — after a stunning drop so far in 2016. That’s shipping rates for crude. With the price for sending cargos from the key bunkering port of Rotterdam, Netherlands to Singapore registering the lowest level seen in 10 years. Platts reported yesterday that shipping rates for Very Large Crude Carriers (VLCCs) traveling the Rotterdam-Singapore route dropped as low as $2.25 million as of Friday. Representing the lowest price ever seen for VLCC fixtures since these analysts began assessing the route in January 2006. That price was down over $200,000 from the last assessment. And represents a stunning 65 percent fall from this past January — when […]