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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.
02 Mar 2015 08:17 GMT





Wired Bunkering Pte. Ltd. logo. Evening Price Update

Cargoes assessment closed mixed this afternoon. Fuel oil cargo dipped marginally by a dollar PMT while gasoil cargo rose by about USD1.30/BBL, though crude futures have shown some weakness earlier. Some requirements have chosen to sit on the sidelines and adopt a wait-and-see strategy. Meantime, our bunker indications are revised accordingly, amid above average demand.

Morning Commentary

Crudes futures for April contracts closed bullish last Friday. NYMEX Crude price surged sharply by USD1.59/BBL while ICE Brent rebounded strongly to settled at USD62.58/BBL (+2.53/b). This has pushed up all paper opening values today. Both fuel oil and gasoil papers gained by USD3.50/BBL and USD1.65/BBL respectively. This will stimulate cargoes to make higher offers later in the day, though crude sentiment was slightly weak earlier. Meantime, our bunker indications are revised upward moderately for all grades.


Related Links:

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

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