Praxis Market Update

Tue 21 Apr 2015, 14:50 GMT

Market update from Praxis Energy Agents S.A.

London-traded Brent futures ended Monday's session little changed at $63.28 after Saudi Arabia's oil minister Ali al-Naimi said that the kingdom's production would stay near record peaks of around 10 million barrels per day in April. Meanwhile, the spread between the Brent and the WTI crude contracts stood at $5.72 a barrel, compared to $5.48 by close of trade on Monday. Elsewhere, the dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was up 0.4% to trade at 98.55 early on Tuesday.

Singapore: Avails are fair. The earliest dates for deliveries were from 23-24th April.

Fujairah: Avail are tight, especially for MGO and IFO 180. For IFO 180 cSt, earliest deliveries were possible from 25th April, depending on supplier barge schedules.

Istanbul: Avails are fine. Earliest deliveries were possible from 22-23rd April onwards, depending on supplier barge schedules.

MGO


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