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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

29 Aug 2017 07:59 GMT

By the Oil Desk at Freight Investor Services.



By the Oil Desk at Freight Investor Services Ltd.

Brent closed down 0.52 last night to $51.89 and WTI closed at $46.57 down 1.30. So you might be wondering, what with the strongest hurricane in the US in over 10 years, why flat price isn't up as much as it should be. Well you would have a point if the factors that lead up to this very unfortunate storm weren't so weak for the crude complex in general. US production hasn't been affected. Yes, US refinery capacity has been disrupted, but the weather should (hopefully) start easing over the next two days and only then will we know the real effects this storm will have on the market. Personally, I see this as the start of maintenance season. Why would most refiners take the time to ensure everything is OK after the storm when they have to shut down anyway in a few weeks? There are plentiful stocks and driving season is not what you would call "thirsty", is it? The only thing I see spiking is freight - in particular TC2. We usually see a spike on TC2 as the gasoline spec changes to winter grade in the next two months or so, but I'm sure European refiners will look to cash in with clean products to the USGC over the next few weeks, so keep your eye on TC2 and a weaker TC14.

Economic Data/Events: (UK times)

* 3pm: U.S. Conf. Board Consumer Confidence

* 9:30pm: API issues weekly U.S. oil inventory report

* Today:

** Oseberg, some other North Sea loading programs for October

** Bloomberg-compiled weekly snapshot of key U.S. refinery outages with offline capacity projections for CDU, FCC units'

** Lukoil. Surgutneftegas earnings.

Singapore 380 cSt

Sep17 - 300.25 / 302.25

Oct17 - 300.00 / 302.00

Nov17 - 299.00 / 301.00

Dec17 - 298.00 / 300.00

Jan18 - 297.00 / 299.00

Feb18 - 296.00 / 298.00

Q4-17 - 299.00 / 301.00

Q1-18 - 296.75 / 298.75

Q2-18 - 295.50 / 298.00

Q3-18 - 294.50 / 297.00

CAL18 - 295.00 / 298.50

CAL19 - 289.00 / 294.00

CAL20 - 271.25 / 278.25

Singapore 180 cSt

Sep17 - 304.75 / 306.75

Oct17 - 305.00 / 307.00

Nov17 - 304.25 / 306.25

Dec17 - 303.75 / 305.75

Jan18 - 303.75 / 305.75

Feb18 - 303.00 / 305.00

Q4-17 - 304.50 / 306.50

Q1-18 - 303.50 / 305.50

Q2-18 - 302.75 / 305.25

Q3-18 - 302.00 / 304.50

CAL18 - 302.25 / 305.75

CAL19 - 297.75 / 302.75

CAL20 - 280.25 / 287.25

Rotterdam 380 cSt

Sep17 285.75 / 287.75

Oct17 283.50 / 285.50

Nov17 280.75 / 282.75

Dec17 278.25 / 280.25

Jan18 279.25 / 281.25

Feb18 279.50 / 281.50

Q4-17 281.00 / 283.00

Q1-18 279.75 / 281.75

Q2-18 279.50 / 282.00

Q3-18 279.25 / 281.75

CAL18 279.25 / 282.75

CAL19 270.00 / 275.00

CAL20 252.00 / 259.00



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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