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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.
30 Mar 2015 08:28 GMT





Wired Bunkering Pte. Ltd. logo. Evening Price Update

Cargoes assessment concluded weak upon Market-On-Close, backed by negative gains on the crudes futures sentiment. Fuel oil cargo dipped by about USD9.00/MT while gasoil cargo fell by a dollar per barrel. All delivered prices were competed at very aggressive levels, possibly all were anticipating prices to head southward along with the soft crude trend earlier. Meantime, our bunker indications are revised downward once again, amid above average demand.

Morning Commentary

Crude futures for May contracts plunged down sharply. Both NYMEX Crude price and ICE Brent concluded bearish and dipped by USD2.56/BBL and USD2.78/BBL respectively. Both values are showing more weakness this morning. Similarly, paper market opened much softer due to weaker crude values. Fuel oil paper opened lower by almost USD12.00/MT while gasoil paper was pegged cheaper by USD1.45/BBL. Cargo trading is expected to make cheaper offers later this afternoon. 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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