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

Global Vision Market Report
Trading Team, Global Vision Bunkers B.V.
23 Mar 2015 11:52 GMT

Global Vision Bunkers BV logo. Crude oil futures tumbled this morning, after bearish comments by Saudi Arabia’ oil minister prompted market players to refocus their attention on ample global supplies.

Oil futures at ICE and NYMEX dropped on Friday morning because of bearish fundamentals extending Thursday's losses. Further downside was caused due to the breach of Thursday's lows especially as the slightly bullish technical constellation was degenerated in the course of the morning. The volatility at the oil market stayed strong as we previously announced to the expiry of NYMEX WTI's front month. After some initial losses a technical upward correction was encouraged in the afternoon which was caused by the weak US dollar. Market players liquidated their dollar long positions triggering a strong increase in the euro. Therefore, in dollar negotiated oil futures became less expensive for traders outside the United States so that many market players used the constellation for short coverings at WTI. Market players assured their positions by technical buying orders because of the upcoming expiry of WTI's front month. These were automatically triggered due to the upward movement. This fact encouraged the strong increase in the afternoon of WTI and the other contracts at ICE and NYMEX. Therefore, oil futures in London and New York settled surprisingly strong on Friday evening.

ICE Gasoil contract for April delivery settled at 525.75 USD on Friday, this is +5.00 USD above Thursday's settlement. With some 47,700 deals the traded volume (front month) was below average.

The RSI triggered mixed signals at ICE on Friday but settled above the 30 line on Friday evening and is to be interpreted as slightly bullish, therefore. The stochastic indicators' lines at ICE and NYMEX converge again but will only trigger a selling signal if they cross. Meanwhile downtrends at ICE stay intact while a short-term technical triangles have been built. A breach of this constellation would provide direction. The technical constellation stays rather instable this morning regarding the intact downtrends and the possible signals of the stochastic indicators. Therefore, we consider the technical constellation as neutral this morning.


Nymex far above average: Oil futures at ICE and NYMEX gave back some of their gains in the early morning again after Friday's increase. But they mark in a rather narrow range since then. The traded volume at NYMEX is far above average at this time of the day. Investors are waiting for the European financial and the forex markets to open and for news concerning the nuclear negotiations with Iran while there are only few economic indicators on the agenda today.

Houston (ex-wharf indications 23-3)
380cst $294
180cst $464
MGO $582

New Orleans (ex-wharf indications 23-3)
380cst $304
180cst $365
MGO $588

Singapore (delivered indications 23-3)

WTI is gaining with +$0.30. Singapore paper is up with +$2.25 for 180cst with +$2.60 for 380cst for Apr, and for May 180 cst +$1.85 and 380cst with +$2.35 with MGO contracts Apr gaining with +$0.30 and in May with +$0.30. The cargo market is bearish with 180cst -$4.55, 380cst with -$5.20 and MGO bearish with -$1.65.

380cst $303
180cst $323
MGO $518

Fujairah (delivered indications 23-3)

380cst $313
180cst $338
MGO $743

ARA (Amsterdam - Rotterdam - Antwerp)

Indications for delivered bunkers:
380cst : $288
MGO 0.1%S: $512

Related Links:

Company: Global Vision Bunkers B.V.

Latest News:

BLOC system completes maiden blockchain bunker transaction
Methanol Institute welcomes 'progress' towards inclusion of methanol in IGF Code
NGOs hail Greenland HFO ban support
Oil and fuel oil hedging market update
Hyundai Mipo gains licence to install GTT's LNG fuel tanks
Oil prices saw heavy volatility yesterday on mixed news
Dan-Bunkering hires three bunker traders in Dubai
Maersk to change BAF calculation ahead of 2020 sulphur cap
Norden seeks assistant for Fuel Efficiency team
Keppel O&M inks deal to offer GTT systems for LNG bunker vessels
Oil and fuel oil hedging market update
Brent remains below last week's $80 level

Page Links:

Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Las Palmas
New Orleans
Rio de Janeiro
Latest News
Middle East
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Fuel Quality
Lubes & Additives
Oil Spills
Port News
Services, Products, Technology
Statistics & Research
Contact & Terms
Contact Us
Terms & Conditions
Privacy Policy
Upcoming Events