BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News



Oil and fuel oil hedging market update

By the Oil Desk at Freight Investor Services.



Freight Investor Services (FIS) logo. Image credit: Freight Investor Services (FIS)


Updated on 03 Apr 2018 08:53 GMT

Commentary

Brent closed last night down $2.63 from Thursday's close to $67.64, WTI closed at $63.01, down $1.93, and INE crude closed at 400.10 Yuan/bbl or $63.60. The market has started Q2 in the same way that a child who has eaten too many chocolate Easter eggs - shaky. For most of yesterday, the market was about as interesting as having dinner with that neighbour who you awkwardly ignore every morning, then the US got in and decided that seeing as nobody else was in that they would take advantage of their long positions and sell the market down. And sell it they did. $70 has proven once again just a step too far for this market. It does try hard, but anything above $70 and the market has the same upward momentum of an asthmatic mouse trying to carry a 2lb block of Cheddar up a ski slope. The Permian basin has proven as resilient as Donald Trump's time in office and it's only a matter of time before Bakken and Eagle Ford fields start to make sense as well. Continental's Bakken filed production is up 60% since Q4 2016 is just one example of this. INE crude continues to attract interest; whether this will be sustained or have any real bearing on traders views I think the jury is still out. Fairly indic market so far as people sort things out after the month roll.

Fuel Oil Market (March 29)

The front crack opened at -13.10, weakening to -13.20, before strengthening to -1.10, closing at -13.20. The Cal 19 was valued at -15.20.

Asia's front-month viscosity spread climbed to a more than 10-month high on Thursday after nearly two weeks of steady gains, trade and broker sources said.

The strength in the viscosity spread, the price differential between 180 cSt and 380 cSt fuel oil swaps, came as a result of tighter blendstock supplies and steady demand for utility grades of the residual fuel, trade sources said. .

The April viscosity spread settled at $9.25 a tonne on Thursday, up from $9 a tonne in the previous session and its highest since May 4.


Economic Data and Events

* 8:50am: France manufacturing PMI March; est. 53.6 (pr. 53.6)

* 8:55am: Germany manufacturing PMI March; est. 58.4 (pr. 58.4)

* 9am: Euro area manufacturing PMI March; est. 56.6 (pr. 56.6)

* OPEC March production estimate based on Bloomberg survey

* Monthly crude export estimates for March for key OPEC nations based on tanker-tracking analysis to start to emerge

* Final Caspian CPC crude program for April

* API issues weekly U.S. oil inventory report

* Bloomberg-compiled refinery snapshot for U.S. and Canada; gives offline capacity projections for crude units and FCCs

Singapore 380 cSt

May18 - 360.50 / 362.50

Jun18 - 360.25 / 362.25

Jul18 - 359.25 / 361.25

Aug18 - 357.75 / 359.75

Sep18 - 356.00 / 358.00

Oct18 - 354.25 / 356.25

Q3-18 -357.75 / 359.75

Q4-18 - 352.75 / 354.75

Q1-19 - 345.25 / 347.75

Q2-19 - 339.00 / 341.50

CAL19 - 317.50 / 321.50

CAL20 - 255.25 / 263.25

Singapore 180 cSt

May18 - 369.50 / 371.50

Jun18 - 369.25 / 371.25

Jul18 - 368.25 / 370.25

Aug18 - 366.75 / 368.75

Sep18 - 365.00 / 367.00

Oct18 - 363.25 / 365.25

Q3-18 - 366.75 / 368.75

Q4-18 - 361.75 / 363.755

Q1-19 - 354.75 / 357.25

Q2-19 - 349.75 / 352.25

CAL19 - 331.25 / 335.25

CAL20 - 279.25 / 287.25

Rotterdam Barges

May18 348.75 / 350.75

Jun18 348.75 / 350.75

Jul18 347.50 / 349.50

Aug18 345.75 / 347.75

Sep18 343.00 / 345.00

Oct18 - 40.00 / 342.00

Q3-18 336.75 / 338.755

Q4-18 336.75 / 338.75

Q1-19 329.50 / 332.00

Q2-18 321.50 / 324.00

CAL19 298.50 / 302.50

CAL20 240.00 / 248.00



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 the company on +44 20 7090 1120.






Related Links:

Oil and fuel oil hedging market update
Freight Investor Services Ltd.

Latest News:

Oil and fuel oil hedging market update
Many unresolved issues left for last PPR meeting before 2020: IBIA
Volatility and supply
IBIA calls for bunker sample verification guidelines before 2020
GP Global inks accord to produce and market Cepsa marine lubes in India
Oil and fuel oil hedging market update
North P&I launches guide on avoiding and defending bunker disputes
Build in stockpiles and record high U.S. oil production
IMO working group develops plan to help ships prepare for 2020
Oil and fuel oil hedging market update
ISO statement on ISO 8217:2017 and 0.5% sulphur fuels
PMG triples pumping rate to meet US Navy bunker demand in military exercise




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events