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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

11 Sep 2017 09:00 GMT

By the Oil Desk at Freight Investor Services.



By the Oil Desk at Freight Investor Services Ltd.

Brent crude for November delivery was up $ 30 cents, or 0.6 percent, at $54.08, having settled down 1.3 percent. U.S. crude for October delivery was up $ 41 cents, or 0.9 percent, at $47.89 a barrel by 0648 GMT, having tumbled 3.3 percent on Friday. Well. we are back to the same old game again then, Saudi Arabia are now floating the idea of extending the cut agreement beyond March 2018, a highly original idea, that will definitely work... More like a chocolate teapot moment. Iran has said that it plans to reach 4.5 million barrels per day in the next 5 years, up from its recent production at 3.8 million barrels per day. Schrodinger's oil market - simultaneously increasing production by oil producers, but also reducing the surplus crude oil in the market. I like this logic, I might apply it to my bank account, increase my spending, and watch with amazement as my balance also increases. Nice. There are little bits of hope in the oil markets, such as the increasing investment in North Atlantic oil fields by companies like Chrysaor and Siccar Point, but don't try to pretend that extending the cut agreement will do much more than keep us in this rangebound trading.

Economic Data/Events: (UK times)

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

* 1:30pm: Bloomberg forecast of U.S. waterborne LPG exports, 8:30am

* Today, no exact timing:

** Bloomberg proprietary forecast of Cushing crude inventory change plus weekly analyst survey of crude, gasoline, distillates inventories

** Norway holds parliamentary elections

Singapore 380 cSt

Oct17 - 315.25 / 317.25

Nov17 - 313.50 / 315.50

Dec17 - 311.75 / 313.75

Jan18 - 310.00 / 312.00

Feb18 - 308.50 / 310.50

Mar18 - 307.50 / 309.50

Q4-17 - 313.50 / 315.50

Q1-18 - 308.50 / 310.50

Q2-18 - 307.25 / 309.75

Q3-18 - 305.25 / 307.75

CAL18 - 305.75 / 309.25

CAL19 - 299.00 / 304.00

CAL20 - 281.00 / 288.00

Singapore 180 cSt

Oct17 - 320.00 / 322.00

Nov17 - 319.25 / 321.25

Dec17 - 317.75 / 319.75

Jan18 - 316.25 / 318.25

Feb18 - 315.25 / 317.25

Mar18 - 314.50 / 316.50

Q4-17 - 319.00 / 321.00

Q1-18 - 315.25 / 317.25

Q2-18 - 314.00 / 316.50

Q3-18 - 312.75 / 315.25

CAL18 - 313.25 / 316.75

CAL19 - 308.00 / 313.00

CAL20 - 290.25 / 297.25

Rotterdam 380 cSt

Oct17 299.00 / 301.00

Nov17 295.00 / 297.00

Dec17 292.00 / 294.00

Jan18 292.25 / 294.25

Feb18 292.00 / 294.00

Mar18 291.75 / 293.75

Q4-17 295.25 / 297.25

Q1-18 292.50 / 294.50

Q2-18 292.00 / 294.50

Q3-18 291.00 / 293.50

CAL18 290.25 / 293.75

CAL19 281.00 / 286.00

CAL20 263.25 / 270.25



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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