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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

13 Sep 2017 08:21 GMT

By the Oil Desk at Freight Investor Services.



By the Oil Desk at Freight Investor Services Ltd.

Brent closed at $54.27 up $0.43 and WTI closed up 0.16 to $48.23. EIA data later and apparently we will see some sizeable builds on crude - not surprising considering the effects of Harvey are being realized. Let's see what the market does, but I know one thing for sure: taking EIA data away from this market would be like taking away Sat Nav from every single Uber driver. It would go nowhere. I read yesterday that OPEC see demand for their crude increasing in 2018. Hang on a chuff, wasn't this story published about this time a year ago? Based on that demand hasn't been particularly great this year, you have to admire them for sticking with the same hope for next year. I also read that the first mutings are there that the OPEC cut will be extended beyond March. Shock. Guess who said that? Gold star - Venezuela. A country in turmoil and whose budget relies 90% on oil revenues. The thing is, when does a "cut" remain a "cut"? If it's two years, then surely the new norm is lower production than OPEC have historically been pumping, no? The trick is obviously that if you put "cut" after "production" then it looks like some drastic measure has been undertaken on an extraordinary basis in the hope the market buys into it quickly and in size. I fear that particular strategy is running out of steam, though. Stats later and watch the dollar.

Economic Data/Events: (UK times)

* 7am: Germany August inflation data

* 9am: IEA monthly oil market report, including estimates of world demand and OPEC's August production

* 1:30pm: U.S. PPI final demand m/m for Aug., est. 0.3% (prior -0.1%)

* 3:30pm: U.S. EIA weekly oil inventory report; TOPLive blog coverage begins 3:20pm

* No exact timing

** Genscape weekly ARA crude stockpiles report

** Pareto's Oil and Offshore Conference, Oslo, with speakers including Statoil CFO Hans Jakob Hegge, Transocean CFO Mark Mey, Norway's Petroleum and Energy Minister Terje Soviknes, 1st day of 2

Singapore 380 cSt

Oct17 - 318.25 / 320.25

Nov17 - 316.75 / 318.75

Dec17 - 315.25 / 317.25

Jan18 - 313.75 / 315.75

Feb18 - 312.25 / 314.25

Mar18 - 311.50 / 313.50

Q4-17 - 316.75 / 318.75

Q1-18 - 312.00 / 314.00

Q2-18 - 310.00 / 312.50

Q3-18 - 308.50 / 311.00

CAL18 - 308.50 / 312.005

CAL19 - 301.75 / 306.75

CAL20 - 283.75 / 290.75

Singapore 180 cSt

Oct17 - 322.50 / 324.50

Nov17 - 322.00 / 324.00

Dec17 - 320.75 / 322.75

Jan18 - 319.50 / 321.50

Feb18 - 318.50 / 320.50

Mar18 - 318.00 / 320.00

Q4-17 - 321.75 / 323.75

Q1-18 - 318.25 / 320.25

Q2-18 - 316.25 / 318.75

Q3-18 - 315.50 / 318.00

CAL18 - 315.75 / 319.25

CAL19 - 310.50 / 315.50

CAL20 - 292.75 / 299.75

Rotterdam 380 cSt

Oct17 302.50 / 304.50

Nov17 298.50 / 300.50

Dec17 295.25 / 297.25

Jan18 295.50 / 297.50

Feb18 295.50 / 297.50

Mar18 295.25 / 297.25

Q4-17 298.75 / 300.75

Q1-18 295.75 / 297.75

Q2-18 295.25 / 297.75

Q3-18 294.25 / 296.75

CAL18 292.75 / 296.25

CAL19 283.50 / 288.50

CAL20 265.75 / 272.75



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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