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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Singapore Market Commentary
Liow Liak Hong, Wired Bunkering Pte. Ltd.
23 Jan 2015 09:18 GMT





Wired Bunkering Pte. Ltd. logo. Evening Price Update

Cargo trading ended much firmer today along with paper surge and crude futures firming up. Fuel oil cargo gained by about USD7.00/MT while gasoil cargo rose by about USD1.30/BBL. All delivered prices were offered higher, though some requirements took a step back and stayed on the sidelines hoping for a fall in prices. Meantime, our bunker indications are revised upward once again amid above average demand.

Morning Commentary

Crude futures for March contracts closed higher last night. Both WTI Crude price and ICE Brent futures gained by USD1.47/BBL and USD0.52/BBL respectively. Their values were showing more climbs this morning. This has stimulated papers market to open more expensive today. Fuel oil paper surged by USD5.50/MT while gasoil paper was pegged firm with an incremental of USD1.15/BBL. With all these positive surges, cargo trading will likely make more expensive offers later in the day. Meantime, our bunker indications are revised upward for all grades.


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Company: Wired Bunkering Pte. Ltd.
Country: Singapore
Port: Singapore

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