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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

19 Jun 2017 07:36 GMT

By the Oil Desk at Freight Investor Services.



By the Oil Desk at Freight Investor Services Ltd.

Brent closed Friday up $0.45 to $47.37 and WTI closed at $44.74 up $0.28. So another week is upon us and as the UK braces for the mercury to maintain 28 deg + (How will they cope!!), the oil market is cooling down. I'm sure everyone will want to know if we have hit the bottom for prices. Well, that remains to be seen. I do, however, think we may have found a floor around these levels. I mean, how much more bad news can crude take? And it is proving resilient around these levels, whether technical support is keeping a lid on things then again, we will have to wait and see. As expected, the US rig count continues to increase and whilst this is of no surprise, surely that number cannot continue to increase the further crude flat price drops. Of course there will be a time lag if this is the case, but if crude stays around these levels, I think we could see the rig rise slow down. Will this be the catalyst for a rally?

Economic Data/Events: (UK times)

* ~12pm: ICE weekly commitments of traders report for Brent, gasoil

* 1pm: New York Fed President William Dudley holds a business roundtable discussion with the North Country Chamber of Commerce and North Country Regional Economic Development Council in Plattsburgh, NY

* Today

** Bloomberg proprietary forecast of Cushing crude inventory change; Bloomberg weekly analyst survey of U.S. oil inventories before Wednesday EIA report

Singapore 380 cSt

Jul17 - 281.00 / 283.00

Aug17 - 279.25 / 281.25

Sep17 - 277.75 / 279.75

Oct17 - 276.00 / 278.00

Nov17 - 275.25 / 277.25

Dec17 - 274.50 / 276.50

Q3-17 - 279.25 / 281.25

Q4-17 - 275.25 / 277.25

Q1-18 - 273.50 / 276.00

Q2-18 - 273.00 / 275.50

CAL18 - 273.50 / 277.00

CAL19 - 269.25 / 274.25

CAL20 - 243.75 / 251.75

Singapore 180 cSt

Jul17 - 287.50 / 289.50

Aug17 - 285.75 / 287.75

Sep17 - 284.25 / 286.25

Oct17 - 283.00 / 285.00

Nov17 - 282.25 / 284.25

Dec17 - 281.50 / 283.50

Q3-17 - 285.75 / 287.75

Q4-17 - 282.25 / 284.25

Q1-18 - 280.50 / 283.00

Q2-18 - 280.25 / 282.75

CAL18 - 281.00 / 284.50

CAL19 - 277.25 / 282.25

CAL20 - 252.75 / 260.75

Rotterdam 380 cSt

Jul17 265.25 / 267.25

Aug17 263.50 / 265.50

Sep17 261.75 / 263.75

Oct17 260.00 / 262.00

Nov17 258.25 / 260.25

Dec17 256.25 / 258.25

Q3-17 263.50 / 265.50

Q4-17 258.50 / 260.50

Q1-18 257.50 / 260.00

Q2-18 258.00 / 260.50

CAL18 257.25 / 260.75

CAL19 251.50 / 256.50

CAL20 225.50 / 233.50



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.




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