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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.
01 Mar 2016 04:45 GMT





Wired Bunkering Pte. Ltd. logo. Evening Price Update

Cargo trading indeed made higher offers today along with surging swaps values and possibly firmer surging crude sentiment. Fuel oil cargo made away with a positive add-on of USD9.00/MT while gasoil cargo rose by about USD1.60/BBL. All delivered prices were competed higher than last close, yet widened the gap against the ex-wharf spot pricing. This could be due to most requirements being held back yesterday and resurfacing again today, asking for a slight premium from last traded level. Inevitably, it gave the impression that the delivered market is accepting levels lower than the actual gains on the physical market. Meantime, our bunker indications are revised upward for all grades.

Morning Commentary

WTI Crude price for April settled firm last night to gain USD0.97/BBL while ICE Brent for May contract rose by USD1.13/BBL. This has pushed up paper swaps this morning. Both fuel oil and gasoil papers were talked higher by USD5.50/MT and USD1.00/BBL respectively. Possibly, this will stimulate cargo trading to make more expensive offers today. 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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