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Crude oil futures were lower on this morning, as concerns about weak demand and ample global supplies continued to weigh.

Oil futures at ICE and NYMEX edged lower on Friday morning keeping track of the bearish technical constellation and market fundamentals. The downward potential remained limited, however, as Thursday's sharp losses prompted investors to cover their short positions ahead of the weekend. The strike of oil workers in Nigeria also provided slightly bullish cues now and again, even though it hasn't caused any export losses so far. In the course of the day, the stronger US-Dollar made dollar-denominated oil more expensive for investors outside the USA weighin on oil futures. Over all, their were but few decisive news, however, and so oil futures rather failed to find a clear direction. Traders focused on their risk positions increasingly betting on the spread between WTI and Brent in late-afternoon trading. That is why WTI retreated whereas Brent remained steadier in the evening and Gasoilalso marked light gains.

ICE Gasoil contract for October delivery settled at 823.25 USD on Friday, this is -0.75 USD below Thursday's settlement. With some 53,100 deals the traded volume (front month) was on average.

The selling signal the stochastic indicator had given at the Brent chart turned neutral again on Friday. This morning, there is another bearish signal, however, as the lines of the indicator have renewedly crossed. With its lines still drifting apart at the Gasoil and the WTI charts, the indicator stays bearish for these contracts, too, even though the selling signal were already generated at the end of last week. The technical constellation thus remains neutral to bearish this morning pointing to some tests of the downside, the more so as the downtrends are still intact. The 820.75 USD marker might become an important support for the Gasoil contract. Profit taking were already stopped by this marker on Thursday and Friday.

U.S.

Nymex on avarage: Futures at ICE erased some of Friday evening's losses in electronic trading this morning as the technical constellation is slightly bearish, the more so as the strike in Nigeria has meanwhile been ended. Gasoil still remains above its important support at 820.75 USD, however. The traded volume at NYMEX is about on average for this time of day. Investors will eye the development at stock and forex markets today. They will also monitor the situation in the geopolitical hotspots and today's economic indicators.

Houston (ex-wharf indications 22-9)
380cst $567
180cst $663
MGO $932

New Orleans (ex-wharf indications 22-9)
380cst $566
180cst $656
MGO $930

Singapore (delivered indications 22-9)

WTI is losing with -$0.24 Singapore paper is up with +$1.00 for 180cst with +$1.25 for 380cst for Oct, and for Nov 180 cst +$1.20 and 380cst with +$1.25 with MGO contracts Oct losing with -$0.09 and in Nov with -$0.06. The cargo market is losing with 180cst -$6.25, 380cst losing with -$4.23 and MGO losing with -$0.06.

The Singapore fuel oil prices fell between -$6.5-$4.0/mt during the Asain Platts window last Friday tracking the weaker crude. The delivered bunker premiums were ranging between +$8.0 to +$10.5 above cargo prices.

380cst $565
180cst $580
MGO $819

Fujairah (delivered indications 22-9)

380cst $590
180cst $628
MGO $980

ARA (Amsterdam - Rotterdam - Antwerp)

Indications for delivered bunkers:
380cst : $544
(1.0 %) : $556
MGO 0.1%S: $797