Singapore Market Commentary (with evening update)

Thu 28 Nov 2013, 07:31 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes trading closed firmer once again today. Fueloil cargo gained by about USD2.00/MT while the Distillates were traded with a surge of about USD0.50/bbl. Delivered prices were generally offered higher for all grades and most were for early December lifting. Meantime, our bunker indication is revised upwards for the MDO/MGO only, amid average demand.

Morning Commentary

Crude futures contract for January closed mixed last night with WTI Crude plunging by USD1.38/bbl whereby ICE Brent gained USD0.43/bbl.

In Singapore, Papers opened firmer this morning. Both Fueloil and Gasoil papers were valued higher by USD2.00/MT and USD0.10/bbl respectively. We shall see how physical cargoes will react this afternoon. Meantime, our bunker indication remains unchanged for all grades.

MGO Singapore Singapore (SG)


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