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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

08 Sep 2017 09:04 GMT

By the Oil Desk at Freight Investor Services.



By the Oil Desk at Freight Investor Services Ltd.

Oil headed for the first weekly gain since July as Gulf Coast refiners ramp up crude processing after disruptions from Hurricane Harvey. About 8 percent of U.S. refining capacity remains shut after Harvey first made landfall two weeks ago. Almost a quarter of the nation's capacity was halted following the storm. American crude stockpiles rose by 4.58 million barrels last week, the first gain since the end of June.

While refineries, pipelines and offshore platforms resume operations after Harvey, another Atlantic hurricane, known as Irma, is approaching the U.S. coast and is set to hit Florida on Sunday. Imports into the Gulf Coast region last week fell to the lowest in records going back to 1990 and nationwide crude output fell below 9 million barrels a day for the first time since February. Batton down the hatches, sit tight and good luck to those that have to ride this storm out.

Economic Data/Events: (UK times)

* 7:45am: France industrial production y/y for July, est. 3.6% (prior 2.6%)

* 9:30am: U.K.

** Industrial production m/m for July, est. 0.2% (prior 0.5%)

** Manufacturing production m/m for July, est. 0.3% (prior 0%)

* 1:30pm: Canada

** Net change in employment for Aug., est. 15k (prior 10.9k)

** Unemployment rate for Aug., est. 6.3% (prior 6.3%)

* 3pm: U.S. wholesale inventories m/m for July, final, est. 0.4% (prior 0.4%)

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

* 8:30pm: U.S. CFTC weekly Commitments of Traders report on U.S.

futures and options contracts

** BTC crude loading program for October

** Kazenergy Eurasian Forum in Astana, final day

** Offshore Europe conference, Aberdeen, final day

Singapore 380 cSt

Oct17 - 321.50 / 323.50

Nov17 - 319.50 / 321.50

Dec17 - 317.50 / 319.50

Jan18 - 315.75 / 317.75

Feb18 - 314.25 / 316.25

Mar18 - 313.25 / 315.25

Q4-17 - 319.50 / 321.50

Q1-18 - 314.50 / 316.50

Q2-18 - 312.50 / 315.00

Q3-18 - 311.00 / 313.50

CAL18 - 311.50 / 315.00

CAL19 - 304.75 / 309.75

CAL20 - 286.75 / 293.75

Singapore 180 cSt

Oct17 - 326.00 / 328.00

Nov17 - 325.00 / 327.00

Dec17 - 323.25 / 325.25

Jan18 - 321.75 / 323.75

Feb18 - 320.75 / 322.75

Mar18 - 320.00 / 322.00

Q4-17 - 324.75 / 326.75

Q1-18 - 321.00 / 323.00

Q2-18 - 319.75 / 322.25

Q3-18 - 318.50 / 321.00

CAL18 - 318.75 / 322.25

CAL19 - 313.50 / 318.50

CAL20 - 295.75 / 302.75

Rotterdam 380 cSt

Oct17 305.25 / 307.25

Nov17 301.00 / 303.00

Dec17 298.00 / 300.00

Jan18 298.25 / 300.25

Feb18 298.00 / 300.00

Mar18 297.75 / 299.75

Q4-17 301.50 / 303.50

Q1-18 298.75 / 300.75

Q2-18 298.25 / 300.75

Q3-18 297.25 / 299.75

CAL18 295.75 / 299.25

CAL19 286.50 / 291.50

CAL20 268.75 / 275.75



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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