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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

09 Aug 2017 08:57 GMT

By the Oil Desk at Freight Investor Services.



By the Oil Desk at Freight Investor Services Ltd.

Brent crude was down 27 cents, or 0.5%, at $51.87 a barrel at around 0630 GMT. In the previous session, it settled down 0.4%. WTI crude was down 21 cents, or 0.4%, at $48.96 a barrel, after falling 0.4% yesterday. Well, Saudi Arabia have increased their burden of cuts to keep OPEC afloat; they are acting a bit like that school friend who always took the blame for your group of friends' misdemeanours. They confirmed that Saudi state oil company Aramco will cut allocations to its customers worldwide in September by at least 520,000 barrels per day, which helps take out the sting of increased production from non-agreement members as well as helping those countries struggling to keep production levels downs like Iraq. The API have predicted a sizeable draw in crude levels at -7.84 million barrels, with products looking less bullish at +1.5 million barrels for gasoline, and -0.2 million barrels for distillates. But, as ever, take these figures with a very large pinch of salt - kind of on the level of licking the edge of the dead sea. It also seems that the news outlets have dusted off that news story entitled 'Oil falls as doubts over OPEC linger'. We are currently rising in price on hope, but when, or not, will reality bite?

Economic Data/Events: (UK times)

* 12pm: U.S. MBA Mortgage Applications, Aug. 4 (prior -2.8%)

* 3pm: U.S. wholesale inventories m/m for June, final, est. 0.6% (prior 0.6%)

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

Singapore 380 cSt

Sep17 - 306.50 / 308.50

Oct17 - 307.50 / 309.50

Nov17 - 304.75 / 306.75

Dec17 - 304.00 / 306.00

Jan18 - 303.25 / 305.25

Feb18 - 302.75 / 304.755br>
Q4-17 - 304.75 / 306.75

Q1-18 - 302.75 / 304.75

Q2-18 - 302.50 / 305.005

Q3-18 - 302.25 / 304.75

CAL18 - 300.50 / 304.00

CAL19 - 295.75 / 300.75

CAL20 - 270.00 / 277.00

Singapore 180 cSt

Sep17 - 311.50 / 313.50

Oct17 - 311.25 / 313.25

Nov17 - 310.50 / 312.50

Dec17 - 310.25 / 312.25

Jan18 - 310.00 / 312.00

Feb18 - 309.75 / 311.75

Q4-17 - 310.75 / 312.75

Q1-18 - 309.75 / 311.75

Q2-18 - 309.75 / 312.25

Q3-18 - 309.75 / 312.25

CAL18 - 307.75 / 311.25

CAL19 - 305.00 / 310.00

CAL20 - 279.00 / 286.00

Rotterdam 380 cSt

Sep17 293.00 / 295.00

Oct17 290.00 / 292.00

Nov17 289.50 / 291.50

Dec17 285.25 / 287.250

Jan18 286.50 / 288.50

Feb18 287.00 / 289.00

Q4-17 287.50 / 289.50

Q1-18 287.00 / 289.00

Q2-18 287.75 / 290.25

Q3-18 287.75 / 290.25

CAL18 286.00 / 289.50

CAL19 277.25 / 282.25

CAL20 258.50 / 265.50



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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