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


Market Briefing
Thorbjoern Bak Jensen, A/S Global Risk Management Ltd.
10 Feb 2010 10:54 GMT





Thorbjoern Bak Jensen, Global Risk Management Today's Trends

Rotterdam (ARA) fuel oil - Trading USD 6 higher

Singapore fuel oil - Trading USD 6 higher

US Gulf - Expected to open USD 1 lower

Bailout of debt-burdened countries supports

Oil prices were heavily supported on Tuesday due to speculation that the EU will support debt-burdened countries as Greece. Germany is apparently considering taking a lead role in a plan with its European Union partners to offer loan guarantees in an effort to calm the markets, Wall Street Journal says.

The EU is meeting Thursday to discuss the issue.

API oil data capped the increases

Crude oil inventories jumped as refinery demand for crude fell 300,000 barrels per day last week. Heating oil inventories, included in the distillate numbers, increased a surprising 417,000 barrels in a week where temperatures were below normal. The Washington snow storm is now affecting economic data as the EIA said it will release its weekly reports on U.S. crude oil and natural gas supplies on Friday, instead of Wednesday, due to weather.

Recommendation

Oil prices are now at very interesting levels for buyers. Focus the coming days will be Wednesday's US trade statistics combined with the development in Europe and Chinese inflation data. Oil has already increased on Greek speculation and should increase even more if the EU agrees on economic support.

Release: API oil data (Consensus)
Crude: 7,195,000 barrels (1,500,000)
Distillates: -1,531,000 barrels (-1,900,000)
Gasoline: 1,552,000 barrels (500,000)


Related Links:

Company: A/S Global Risk Management Ltd.

Latest News:

CMA CGM's takeover of Containerships sees LNG advocates join forces
Hydrogen-powered ferry project secures EU funding
Oil and fuel oil hedging market update
Nauticor's LNG bunker vessel enters final phase before delivery
Bunker checklist for vessel owners published
BC Ferries posts rise in bunker consumption in fiscal 2018
Mixed OPEC news and meeting keep oil price volatility high
Oil and fuel oil hedging market update
World Fuel Services seeks Operations and Trade Support Assistant
Trade dispute escalation, OPEC meeting jitters cause volatility
How to prevent bunker spills: North P&I
Bunker Holding wins award at HR event




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events