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.



Image credit:


Updated on 05 Apr 2018 08:33 GMT

Commentary

Brent closed last night at $68.02 down $0.10, WTI closed at $63.37, down $0.14 and INE closed at Y402.30 per bbl or $63.85. Sometimes numbers are easy to put into perspective. For example: 180, the number of minutes Arsenal's solid defence haven't let a Premier League goal in. 31, the number of minutes it took Liverpool to spank Man City last night. 5, the number of minutes it took me to demolish an Easter egg last weekend. See, easy. But when someone puts a billion at the end of any number it all goes a little bit skewed. Bahrain announced Monday they had found 80 billon bbls of shale oil and 14 trillion cubic feet of gas. I'm sure many people can't quite fathom those kinds of numbers, but one thing I can say is that it's a lot. A lot, a lot. ExxonMobil has increased the size of its Permian resource from less than 3 billion barrels of oil equivalents (Bboe) to 9.5 Bboe. Iraq have said they are going to increase their oil production to 6.5mnbpd from current production of 4.6mnbpd. With these kinds of predictions, the market seems unsure of what to do. With all this production coming into the market, some will be taken out by need to increase due to depletion of current wells. I know demand generally is apparently inching higher, but I wouldn't put the term "inching" against the supply outlook. A definite long-term concern for suppliers. Driving season in the US isn't that far away and I think it is going to prove crucial for the market as a real tangible indicator if demand is actually there.

Fuel Oil Market (April 4)

The front crack opened at -11.85, strengthening to -11.20, before weakening to -11.55. The Cal 19 was valued at -14.50.

Asia's prompt-month viscosity spread extended gains for a sixth consecutive session to a near three-year high on Wednesday after almost three weeks of steady gains. Concerns of tight blendstock supplies over the coming month have helped boost the low-viscosity fuel oil market in recent weeks.

Fujairah fuel oil inventories slipped 1.4 percent to a fourweek low of 7.049 million barrels (about 1.052 million tonnes) in the week to April 2.

Total fuel oil flows into East Asia for April is expected to close under last month's 13-month high of 6.9-7.0 million tonnes, on lower arrivals from all three supply regions - the West, the Middle East and Asia - assessments by Thomson Reuters Oil Research showed on Tuesday.

Economic Data and Events

* 1:30pm: U.S. weekly initial jobless claims for March est. 225k (prior 215k)

* Census Bureau releases U.S. crude exports for February

* Singapore onshore oil-product stockpile data

* Russian refining maintenance schedule from ministry

Singapore 380 cSt

May18 - 369.25 / 371.25

Jun18 - 368.75 / 370.75

Jul18 - 367.50 / 369.50

Aug18 - 366.00 / 368.00

Sep18 - 364.25 / 366.25

Oct18 - 362.25 / 364.25

Q3-18 - 366.00 / 368.00

Q4-18 - 360.25 / 362.25

Q1-19 - 353.25 / 355.75

Q2-19 - 346.50 / 349.50

CAL19 - 325.75 / 330.75

CAL20 - 266.00 / 274.00

Singapore 180 cSt

May18 - 378.75 / 380.75

Jun18 - 378.00 / 380.00

Jul18 - 376.50 / 378.50

Aug18 - 375.00 / 377.00

Sep18 - 373.25 / 375.25

Oct18 - 371.25 / 373.25

Q3-18 - 375.00 / 377.00

Q4-18 - 369.50 / 371.50

Q1-19 - 362.75 / 365.25

Q2-19 -357.25 / 360.25

CAL19 - 339.75 / 344.75

CAL20 - 290.25 / 298.25

Rotterdam Barges

May18 357.00 / 359.00

Jun18 356.50 / 358.50

Jul18 355.00 / 357.00

Aug18 353.00 / 355.00

Sep18 350.25 / 352.25

Oct18 - 347.25 / 349.25

Q3-18 352.75 / 354.75

Q4-18 343.75 / 345.75

Q1-19 336.75 / 339.25

Q2-18 328.25 / 331.25

CAL19 307.00 / 312.00

CAL20 257.50 / 265.50



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 call +44 20 7090 1120, or email info@freightinvestor.com.






Related Links:

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

Latest News:

Oil and fuel oil hedging market update
Mixed news keeps Brent in the upper seventies
MAN contracted to supply IFO 380 propulsion system for seven Russian trawlers
Green Corridor project ends with closing ceremony
DNV GL replaces LNGi with AFI alternative fuels platform
Sale of Odfjell Terminals Rotterdam completed
Oil and fuel oil hedging market update
Oil stocks fall, trade war escalates
Tri-party MoU signed to advance LNG fuel adoption
HHI's LPG-fuelled VLGC granted AiP
ABS gas-as-marine-fuel seminars travel to Europe, Hong Kong
Freight association slams 'yet another surcharge' by box carriers




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
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