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By the Oil Desk at Freight Investor Services Ltd.

One of the world's biggest commodities traders doubts oil producers will be able to agree on curbing output to pull up prices, shocker! While it's 'easier' to have talks on freezing supplies now than it was at a meeting in Doha earlier this year, a deal is unlikely at a gathering in Algiers later this month, said Gunvor Group Ltd. Producers have pledged to discuss measures to help the market, but Saudi Arabia has said it sees no need to limit oil output and Russia expressed doubt that a cap is needed. "There won't be an agreement but it does no harm to keep talking about this because that itself is price supportive". Lets face it, haven't we jumped from the 12-year lows of $26-27 to $50 a barrel purely from hot air, or have we? In the meantime, OPEC is also producing unprecedented amounts of crude, with total output reaching 33.69 million barrels a day last month, according to according to a Bloomberg survey of analysts, oil companies and ship-tracking data. Good day all.

Economic data/events:

* 12pm: U.S. MBA mortgage applications for Sept. 2 (prior 2.8%)
* 3pm: U.S. July JOLTS Job Openings, est. 5.63m (prior 5.624m)
* 5pm: EIA monthly short-term energy outlook
* 7pm: U.S. Fed releases beige book
* 9:30pm: API issues weekly U.S. oil inventory report
* Today: Asia Pacific Petroleum Conference, Singapore
* Today: SPE Intelligent Energy International Conference, Aberdeen
* Today: Barclays CEO Energy-Power Conference, New York

Singapore 380 cSt

Oct-16 - 247.5 / 249.5
Nov-16 - 246 / 248
Dec16 - 245 / 247
Jan17 - 245 / 247
Feb-17 - 245.25 / 247.25
Mar-17 - 245.5 / 247.5
Q4-16 - 245 / 248
Q1-17 - 243.75 / 246.75
Q2-17 - 245.25 / 249.25
Q3-17 - 247.25 / 251.25
CAL17 - 248.5 / 252.5
CAL18 - 261.25 / 267.25
CAL19 - 277.25 / 285.25
CAL20 - 293.25 / 301.25

Singapore 180 cSt

Oct-16 - 252.75 / 254.75
Nov-16 - 251.5 / 253.5
Dec16 - 251.25 / 253.25
Jan17 - 250.75 / 252.75
Feb-17 - 251.25 / 253.25
Mar-17 - 251.75 / 253.75
Q4-16 - 250.75 / 253.75
Q1-17 - 250.25 / 253.25
Q2-17 - 252 / 256
Q3-17 - 254.25 / 258.25
CAL17 - 255.75 / 259.75
CAL18 - 270.25 / 276.25
CAL19 - 286.25 / 294.25
CAL20 - 302.25 / 310.25

Rotterdam 3.5%

Oct-16 233 / 235
Nov-16 230.25 / 232.25
Dec16 228.5 / 230.5
Jan17 230.25 / 232.25
Feb-17 231.25 / 233.25
Mar-17 232.25 / 234.25
Q4-16 230.25 / 233.25
Q1-17 231.25 / 234.25
Q2-17 233.5 / 237.5
Q3-17 235.75 / 239.75
CAL17 235.25 / 239.25
CAL18 249 / 255
CAL19 261.75 / 269.75
CAL20 275.25 / 283.25

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Founded in 2002, Freight Investor Services is a specialist in dry bulk and commodity derivatives, including cargo freight, iron ore, fertilizer and bunker fuel. The company has offices in London, Dubai, Singapore and Shanghai.

For further details about fuel oil swaps or to discuss trading opportunities, please contact Andrew Cullen, Client Relations & Development Manager, on +44 207 090 1126, or email AndrewC@freightinvestor.com.