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By the Oil Desk at Freight Investor Services Ltd.

Brent closed at $47.98 up 0.72 and WTI closed up 0.67 up to $45.50. Right, so where are we? Well, flat price is continuing its mental climb upwards. Apparently the brainiacs at API say there is going to be a huge draw on crude later - which would make sense considering Hurricane Higgins (or whatever it was called) blew through the USGC last week and the floods are still prevalent in that area, so of course there will be a big draw on crude. But surely the market isn't reacting off that, is it? You bet your nelly it is. Forget the fact that gazillions of tankers laden with crude oil are waiting for the weather to get better before discharging, apparently that doesn't matter. So buy the market now and sell the spike. We may reach $50 before the day's out. Thanks and Good day.

Economic data/events

* 9am: Singapore onshore oil-product stockpile data
* 11am: Russian refining maintenance schedule from ministry
* 12:45pm: ECB rate decision, est. 0% (prior 0%)
* 1:30pm: U.S. initial jobless claims for Sept. 3, est. 265k
(prior 263k); U.S. continuing claims for Aug. 27, est.
2,151k (prior 2,159k)
* 2:45pm: U.S. Bloomberg consumer comfort for Sept. 4, prior 43.4
* 4pm: EIA weekly 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 - 253.5 / 255.5
Nov-16 - 252.25 / 254.25
Dec16 - 251.5 / 253.5
Jan17 - 251.25 / 253.25
Feb-17 - 251.75 / 253.75
Mar-17 - 252.25 / 254.25
Q4-16 - 251.25 / 254.25
Q1-17 - 250.75 / 253.75
Q2-17 - 252.75 / 256.75
Q3-17 - 255.5 / 259.5
CAL17 - 255.5 / 259.5
CAL18 - 268.25 / 274.25
CAL19 - 284.25 / 292.25

Singapore 180 cSt

Oct-16 - 258.75 / 260.75
Nov-16 - 257.75 / 259.75
Dec16 - 257.25 / 259.25
Jan17 - 257 / 259
Feb-17 - 257.75 / 259.75
Mar-17 - 258.5 / 260.5
Q4-16 - 256.75 / 259.75
Q1-17 - 257 / 260
Q2-17 - 259.25 / 263.25
Q3-17 - 262.25 / 266.25
CAL17 - 262.75 / 266.75
CAL18 - 277.25 / 283.25
CAL19 - 293.25 / 301.25

Rotterdam 3.5%

oct-16 239.5 / 241.5
nov-16 237 / 239
Dec16 235.5 / 237.5
Jan17 237.5 / 239.5
feb-17 238.75 / 240.75
mar-17 239.75 / 241.75
Q4-16 236.75 / 239.75
Q1-17 238 / 241
Q2-17 240.5 / 244.5
Q3-17 243 / 247
CAL17 242.25 / 246.25
CAL18 256 / 262
CAL19 268.75 / 276.75

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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.