Rates for capesize bulkers declined throughout last week as oil prices plummeted to record levels in a severely flooded market, fuelling volatility in bunker rates.
May 2020 Western Texas Intermediate (WTI) future contract rates last Monday fell below zero for the first time ever to -$40.32 per barrel before settling at -$37.63 per barrel for the day.
June 2020 WTI futures gained substantially to $17.10
