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Evening Price Update

Cargoes assessment closed weaker this afternoon with notably more sheds on the Distillates. Fueloil cargo dipped by about USD2-3/MT and Gasoil cargo fell much softer by USD1.00/BBL. Ex-wharf cargo on spot was offered quite steady as per last close, yet delivered prices were quoted quite aggressively low. This could possibly be due to weakening of Crude futures sentiment earlier.

Demand was above average and this week Asia market may not be so active due to China being closed for a week with its national holiday starting tomorrow. Meantime, our bunker indication is revised downward only for the MDO/MGO.

Morning Commentary

Crude futures took a slight dip last Friday upon closing. The sheds were for November values - USD0.16/bbl and USD0.58/bbl for the WTI Crude and ICE Brent futures respectively. Both are still showing negative gains this morning.

This has pulled down Paper market sentiment as well. Fueloil paper opened weaker by about USD6.00/MT while Gasoil paper was pegged softer by USD0.45/bbl. Meantime, our bunker indication is revised downward moderately for all grades.