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



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


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





Oil and fuel oil hedging market update

21 Apr 2017 07:58 GMT

By the Oil Desk at Freight Investor Services.



By the Oil Desk at Freight Investor Services Ltd.

Brent closed up 0.06 to $52.99 last night and Jun WTI closed down 0.14 to $50.71. What has the week brought us? Well, we're down 5.5% on the week. Not great if you're hoping/predicting/guessing for $70 per bbl oil like Citibank. This market trying to push above $55 is hard enough, but getting above $60? That's like trying to complete a triple toe loop on an ice rink whilst holding a hippo. Difficult. Again we are in this range between $50 and $55, and try with all their might have OPEC and a grillion of its ministers attempted to talk the market up about extending the cut. I think the extension is already priced in; even the most naive of bulls surely can't sit there and surmise that, come end May, OPEC are going to cease the production cut. I imagine there will probably be a spike when news is confirmed about the extension. This market can't help itself sometimes and give a trader a new toy or headline and they will play with it ferociously like I did with my first ever Scalextric set. But eventually someone has to clear the Scalextric away and then you're just left with a big empty void where there was once happiness. I fear OPEC are going down this path and they will just be left in an empty room speaking into countless microphones with nobody listening. I'm not saying the cartel is dead - far from it, but it needs to perhaps look at a different angle to make the market believe in it once again.

Economic Data/Event: (UK times)

* 2:45pm: U.S. Markit Manufacturing PMI, April (prelim)

* 3:00pm: U.S. Existing Home Sales, March

* 6:00pm: Baker Hughes weekly U.S. oil, gas rig counts

* 8:30pm: CFTC weekly commitments of traders report on futures and options positions

* Today:

* OPEC technical committee meets in Vienna to discuss compliance with output-cuts agreement

* Russian Energy Minister Alexander Novak visits Tokyo for energy talks

Singapore 380 cSt

May17 - 297.75 / 299.75

Jun17 - 297.75 / 299.75

Jul17 - 297.75 / 299.75

Aug17 - 297.50 / 299.50

Sep17 - 297.00 / 299.00

Oct17 - 296.50 / 298.50

Q3-17 - 297.50 / 299.50

Q4-17 - 296.00 / 298.00

Q1-18 - 294.25 / 296.75

Q2-18 - 293.25 / 295.75

CAL18 - 292.00 / 295.50

CAL19 - 281.50 / 286.50

CAL20 - 256.50 / 264.50

Singapore 180 cSt

May17 - 305.50 / 307.50

Jun17 - 304.50 / 306.50

Jul17 - 304.25 / 306.25

Aug17 - 304.25 / 306.25

Sep17 - 303.75 / 305.75

Oct17 - 303.50 / 305.50

Q3-17 - 304.25 / 306.25

Q4-17 - 303.00 / 305.00

Q1-18 - 301.25 / 303.75

Q2-18 - 300.25 / 302.75

CAL18 - 299.50 / 303.00

CAL19 - 290.25 / 295.25

CAL20 - 265.50 / 273.50

Rotterdam 380 cSt

May17 280.50 / 282.50

Jun17 281.50 / 283.50

Jul17 281.50 / 283.50

Aug17 281.25 / 283.25

Sep17 280.75 / 282.75

Oct17 279.75 / 281.75

Q3-17 281.25 / 283.25

Q4-17 278.50 / 280.50

Q1-18 278.00 / 280.50

Q2-18 277.75 / 280.25

CAL18 276.00 / 279.50

CAL19 264.75 / 269.75

CAL20 238.25 / 246.25



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.


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




Related Links:


Latest News:

Algeciras receives first LNG bunker delivery in five years
Bunker supplier Skangas to source LNG from UK's Isle of Grain terminal
Brent around two-year-high as critical pipeline closes
Oil and fuel oil hedging market update
PT2SB secures $1.25bn financing for Malaysia terminal
Researchers claim 'big step forward' in efficient production of non-food biofuel
Antwerp backs construction of five zero-emission barges
Bunker-themed playlist for end-of-year office party
Oil and fuel oil hedging market update
Oil starts off the week where it ended... around $63
Quadrise delivers presentation to shareholders at AGM
Tug beats fuel savings forecast in Azipod D trials




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events