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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

25 Aug 2017 08:19 GMT

By the Oil Desk at Freight Investor Services.



By the Oil Desk at Freight Investor Services Ltd.

Brent crude futures were at $52.53 per barrel, up 49 cents, or 0.9%, from their last close. And WTI crude futures were at $47.83 a barrel at 07:03 GMT, up 40 cents, or 0.8%, from their last settlement. All the news this morning is about Harvey, and no I'm not talking about the 1950 classic with James Stewart. The whole affected area has shut down, with refineries and shale fields in the Gulf of Mexico being evacuated and disruption to shipping. US gasoline prices are up 10% since Wednesday and Brent this morning has recovered from some of its sell-off late yesterday afternoon. I do love how these little stories have such a draw in the market. I know this is a volatile product, but still, any distraction from the battle between supply and draining inventories seems incredibly welcome. "Oohhh, shiny new news!" Magpie-like, we jump on it. Yes, there might be some damage to infrastructure and disruption to shipments; yes, people will take this weather disruption as bullish, but does this change anything about the points made yesterday on US production? No. The US have prepared well and a little bit of wind won't change things.

Economic Data/Events: (UK times)

* 1:30pm: U.S. durable goods orders for July, prelim., est. -6% (prior 6.4%)

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

* 8:30pm: CFTC weekly commitments of traders report on U.S.futures and options contracts

* Today:

** Federal Reserve Bank of Kansas City hosts its annual monetary policy symposium on 'Fostering a Dynamic Global Economy'

** Russia releases full month Urals program for Sept.

Singapore 380 cSt

Sep17 - 302.50 / 304.50

Oct17 - 302.25 / 304.25

Nov17 - 301.75 / 303.75

Dec17 - 300.75 / 302.75

Jan18 - 299.75 / 301.75

Feb18 - 298.75 / 300.75

Q4-17 - 301.50 / 303.50

Q1-18 - 299.00 / 301.00

Q2-18 - 297.75 / 300.25

Q3-18 - 296.75 / 299.25

CAL18 - 298.00 / 301.50

CAL19 - 292.00 / 297.00

CAL20 - 274.25 / 281.25

Singapore 180 cSt

Sep17 - 306.75 / 308.75

Oct17 - 309.00 / 311.00

Nov17 - 307.25 / 309.25

Dec17 - 307.00 / 309.00

Jan18 - 306.50 / 308.50

Feb18 - 305.75 / 307.75

Q4-17 - 306.75 / 308.75

Q1-18 - 305.75 / 307.75

Q2-18 - 305.00 / 307.50

Q3-18 - 304.25 / 306.75

CAL18 - 305.25 / 308.75

CAL19 - 300.75 / 305.75

CAL20 - 283.25 / 290.25

Rotterdam 380 cSt

Sep17 288.25 / 290.25

Oct17 286.50 / 288.50

Nov17 284.00 / 286.00

Dec17 281.75 / 283.75

Jan18 282.75 / 284.75

Feb18 282.75 / 284.75

Q4-17 284.25 / 286.25

Q1-18 283.00 / 285.00

Q2-18 282.75 / 285.25

Q3-18 282.50 / 285.00

CAL18 282.25 / 285.75

CAL19 273.00 / 278.00

CAL20 255.00 / 262.00



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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