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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News



Oil and fuel oil hedging market update

By the Oil Desk at Freight Investor Services.



Freight Investor Services (FIS) logo. Image credit: Freight Investor Services (FIS)


Updated on 11 Jan 2017 08:35 GMT

By the Oil Desk at Freight Investor Services Ltd.

Brent closed last night at $53.64 down 1.30 and WTI closed down 1.14 and $50.82. La La Land. A musical that is taking Hollywood by storm and will clean up during award season. La La Land. A situation the oil market finds itself in where only the bears are cleaning up. I know we've been banging this bearish drum since the OPEC/ non-OPEC agreement was announced end of November. At first glance and throughout December the market welcomed and applauded that such a difficult agreement would and could be reached. The bulls took the news and everyone was drinking their Irish coffees over the festive period thinking $70 per bbl was the next stop. Look out. We've dropped over 6% this week and we're pretty much back to the levels we were at the end of November. So was it a month-long rally? I think it has been oversold, if I'm honest. I know we're one of the biggest sceptics out there, but let's at least give the agreement a chance to yield something. And it does seem that the agreement, at least from the GCC, is being adhered to; but it was always the what ifs, the not sures, the people who weren't part of the agreement - and of course the blond elephant in the room that was going to throw a proverbial 100pct US-built spanner in the works wasn't it? EIA data later and apparently there will be a build on crude. If there is, then you can expect every OPEC minister to start to learn to dance the hokey cokey from Ryan Gosling.

Economic data/events (London times)

* 12pm: U.S. MBA Mortgage Applications, Jan. 6, prior 0.1%

* 3:30pm: EIA weekly oil inventory report; TOPLive blog coverage begins 3:20pm

* Today:

* Confirmation hearing for Exxon's former CEO, Rex Tillerson, as U.S. Secretary of State at Senate Foreign Relations Cmte, Washington, 1st day

* OPEC Secretary-General Mohammad Barkindo visits Kuwait, final day

* Gulf Intelligence U.A.E. Energy Forum, Abu Dhabi

* U.S. President-elect Donald Trump news conference, New York

* Genscape's weekly ARA crude stockpiles report

* CPC, Azeri Supsa loading programs (Feb.)

Singapore 380 cSt

Feb17 - 311.75 / 313.75

Mar17 - 310.00 / 312.00

Apr17 - 308.50 / 310.50

May17 - 307.00 / 309.00

Jun17 - 305.50 / 307.50

Jul17 - 303.75 / 305.75

Q2-17 - 307.00 / 309.00

Q3-17 - 302.50 / 304.50

Q4-17 - 298.00 / 300.50

Q1-18 - 295.50 / 298.00

CAL18 - 293.25 / 296.75

CAL19 - 274.00 / 279.00

Singapore 180 cSt

Feb17 - 317.75 / 319.75

Mar17 - 316.00 / 318.00

Apr17 - 315.50 / 317.50

May17 - 314.00 / 316.00

Jun17 - 312.50 / 314.50

Jul17 - 310.75 / 312.75

Q2-17 - 314.00 / 316.00

Q3-17 - 309.75 / 311.75

Q4-17 - 305.25 / 307.75

Q1-18 - 302.50 / 305.00

CAL18 - 301.00 / 304.50

CAL19 - 282.75 / 287.75

Rotterdam 3.5%

Feb17 291.25 / 293.25

Mar17 291.25 / 293.25

Apr17 290.75 / 292.75

May17 290.00 / 292.00

Jun17 289.00 / 291.00

Jul17 287.75 / 289.75

Q2-17 290.00 / 292.00

Q3-17 286.75 / 288.75

Q4-17 281.25 / 283.75

Q1-18 280.00 / 282.50

CAL18 279.00 / 282.50

CAL19 259.25 / 264.25



Founded in 2002, Freight Investor Services is a specialist in dry bulk and commodity derivatives, including cargo freight, iron ore, fertilizer and bunker fuel. The company has offices in London, Dubai, Singapore and Shanghai.

For further details about fuel oil swaps or to discuss trading opportunities, please contact Andrew Cullen, Client Relations & Development Manager, on +44 207 090 1126, or email AndrewC@freightinvestor.com.






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