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Crude-oil prices on the two sides of the Atlantic diverged Tuesday morning, on the last trading day of 2013. Brent crude for February delivery was up 17 cents at $111.38 a barrel on ICE Futures Europe. U.S. crude-oil futures were down 28 cents at $99.01 a barrel on the New York Mercantile Exchange.

After having stayed within their technical ranges yesterday morning, oil futures sharply declined in the afternoon. Gasoil and Brent, which had already shown a slightly softer tendency in morning trading, hit new lows at 944.00 dollars, resp. 110.91 dollars. WTI has dropped to its support at 99.65 dollars.

Oil futures chiefly plummeted for technical reasons, like the fresh selling signal of the stochastic indicator at the WTI chart. Moreover, the breachment of first supports triggered more technical selling that accelerated the decline. Still, oil prices were able to slightly recover after WTI's support at 99.65 dollars proved strong.

Nevertheless, prices failed to make up for their losses. Ahead of New Year, market players seem to prefer remaining cautious, the more so as trading volumes were very low and there were neither fundamental news, nor important economic indicators.

U.S.

Houston (ex-wharf indications 20-12)
380cst $599
180cst $667
MGO $999

New Orleans (ex-wharf indications 20-12)
380cst $619
180cst $656
MGO $1005

Singapore

WTI is slightly down with -$0.95. Singapore paper is dropping as well with -$3.20 for 180cst and -$3.65 for 380cst for Jan, and for Feb 180 cst -$4.10 and 380cst -$4.05 with MGO contracts Jan -$1.50 and Feb -$1.48. The cargo market is bullish, gaining with 180 cst +$2.02, 380cst +$2.51 and MGO +$0.57.

380cst $614
180cst $622
MGO $935

ARA (Amsterdam - Rotterdam - Antwerp)

Indications for delivered bunkers:
380cst : $588
(1.0 %) : $610
180cst: $618
MGO 0.1%S: $ 919