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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Market Briefing
Thorbjoern Bak Jensen, A/S Global Risk Management Ltd.
07 Apr 2009 09:24 GMT





Thorbjoern Bak Jensen, Global Risk Management Today's Trends

Rotterdam (ARA) fuel oil - trading $12 higher
Singapore fuel oil - trading $9 higher
US Gulf - expected to open $2 higher

Oil Prices Up

Oil prices rose nearly 11 percent in March and has increased 9,5% in the first quarter of 2009. The increase in oil prices is mainly due to the recent rally in the global stock markets and compliance to the OPEC cuts.

Japanese stimulus package

Today prices seem to be increasing on Japan&rsquos plan to issue an extra USD 100 billion economic stimulus package. Japan said, in an attempt to help the economy survive the global crisis further stimulus was needed. Furthermore as investors seized on signs that markets may have bottomed to buy stocks and commodities.

Stocks rose

On Friday stocks rose with the Dow closing out its best four week winning streak since 1933, lifted by robust results and Ben Bernanke statement that the central bank would do everything it could to stabilise banks. Furthermore, a sign of rising risk appetite can be seen as gold prices are decreasing, which has fallen more then 2 percent today.

The increase in stocks prices were despite US government data showing US employers slashed 663,000 job in March, lifting the unemployment rate to a 26 year high of 8,5 percent.


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Company: A/S Global Risk Management Ltd.

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