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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Oil and fuel oil hedging market update

17 May 2017 07:42 GMT

By the Oil Desk at Freight Investor Services.



By the Oil Desk at Freight Investor Services Ltd.

Brent closed down $0.17 last night to $51.65 and WTI closed at $48.66 down $0.19. It's not too radical a view to think that the market will not rise much above $55, but Monday's news from Saudi and Russia regarding extending the production cut seems to have been awkwardly ignored like a drunk uncle at a wedding. The market is still reacting off the only real micro indicator - and that is EIA data, as that is the only tangible factor with regards to demand. Yesterday's IEA report was hardly encouraging for OPEC as the demand/supply balance still has much work to do, and even less encouraging was the fact that North Sea fields are going to ramp up by a fifth as they become more efficient. Couple this with the comment yesterday regarding DUCs and the market could, very quickly, start dismissing what OPEC do. Stats later.

Economic Data/Events: (Times are London)

* 12pm: U.S. MBA Mortgage Applications, May 12

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

* Today:

* * Genscape weekly ARA crude stockpiles report

* * APPEA 2017 Conference, Perth, final day

* * OPEC's Economic Commission Board meets in Vienna to discuss oil market in preparation for group's May 25 meeting

* * Nigerian, other WAF loading programs for July to be released starting Wednesday

* Also see OIL WEEKLY AGENDA until May 19

Singapore 380 cSt

Jun17 - 293.75 / 295.75

Jul17 - 294.00 / 296.00

Aug17 - 293.75 / 295.75

Sep17 - 293.00 / 295.00

Oct17 - 292.25 / 294.25

Nov17 - 291.75 / 293.75

Q3-17 - 293.50 / 295.50

Q4-17 - 291.75 / 293.75

Q1-18 - 290.00 / 292.50

Q2-18 - 289.25 / 291.75

CAL18 - 287.75 / 291.25

CAL19 - 281.00 / 286.00

CAL20 - 258.25 / 266.25

Singapore 180 cSt

Jun17 - 301.00 / 303.00

Jul17 - 300.75 / 302.75

Aug17 - 300.50 / 302.50

Sep17 - 299.75 / 301.75

Oct17 - 299.25 / 301.25

Nov17 - 298.75 / 300.75

Q3-17 - 300.50 / 302.50

Q4-17 - 299.00 / 301.00

Q1-18 - 297.50 / 300.00

Q2-18 - 297.00 / 299.50

CAL18 - 295.50 / 299.00

CAL19 - 289.00 / 294.00

CAL20 - 267.25 / 275.25

Rotterdam 380 cSt

Jun17 279.75 / 281.75

Jul17 279.00 / 281.00

Aug17 278.00 / 280.00

Sep17 277.00 / 279.00

Oct17 275.75 / 277.75

Nov17 274.00 / 276.00

Q3-17 278.00 / 280.00

Q4-17 274.25 / 276.25

Q1-18 273.50 / 276.00

Q2-18 273.75 / 276.25

CAL18 271.00 / 274.50

CAL19 264.00 / 269.00

CAL20 238.50 / 246.50



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)




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