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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.
03 Mar 2015 08:44 GMT





Wired Bunkering Pte. Ltd. logo. Evening Price Update

Cargoes assessment closed weak today, notably with papers plunging further after the trading session ended. Fuel oil cargo dived down by USD12.00/MT while gasoil cargo went straight down by about USD2.15/BBL, though crude futures sentiment was getting stronger and stronger since our last market commentary. Meantime, our bunker indications are revised downward for all grades, amid above average demand.

Morning Commentary

NYMEX Crude price for April fell marginally last night, by USD0.17/BBL, while ICE Brent futures for April concluded very bearish, by slightly more than USD3.00/BBL. This has dragged down paper swaps here in Singapore this morning. Both fuel oil and gasoil papers were pegged very weak, falling USD11.50/MT and USD1.40/BBL respectively. This will possibly stimulate cargoes to sell cheaper, but it will not be as much as papers have indicated as crude futures have shown some recovery earlier. Meantime, our bunker indications are revised downward for all grades.


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

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