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Tue 5 Jun 2018, 08:27 GMT

Oil and fuel oil hedging market update


By the Oil Desk at Freight Investor Services.

Commentary

Brent crude was up 14 cents, or 0.19 percent, to $75.43 a barrel at 03:01 GMT, after settling down 2 percent at $75.29 on Monday. WTI crude was up 32 cents, or 0.49 percent, at $65.07 a barrel. It finished the previous session 1.6 percent lower at $64.75. The decision soon by OPEC on whether to hold the cuts is not one that can be taken likely, but one which has a logical conclusion. Rosneft said yesterday that it can produce more oil easily, upping production to 2016 levels. The decision to increase flow form OPEC will surely come when prices have peaked to their target levels, or they view U.S. production as a threat. I'd more readily take a bet against anyone's predictions due to the unpredictability we have seen this year. Oh well, at least things aren't in as bad a situation as Venezuela's oil industry. Good day.

Economic data/events (Times are London.)

* Platts Global Crude Oil Summit, London, with speakers including Jeff Currie, head of Global Commodity Research at Goldman Sachs, and Trafigura Chief Economist Saad Rahim, 1st day of 2

* Bloomberg-compiled Refinery Snapshot for U.S. and Canada; gives offline capacity projections for crude units and FCCs

* API issues weekly U.S. oil inventory report

Singapore 380 cSt

Jul18 - 432.75 / 434.75

Aug18 - 428.25 / 430.25

Sep18 - 424.00 / 426.00

Oct18 - 420.25 / 422.25

Nov18 - 416.50 / 418.50

Dec18 - 413.00 / 415.00

Q3-18 - 428.25 / 430.25

Q4-18 - 417.00 / 419.00

Q2-19 - 392.75 / 395.25

CAL19 - 370.50 / 373.50

CAL20 - 298.00 / 303.00

Singapore 180 cSt

Jul18 - 444.25 / 446.25

Aug18 - 439.50 / 441.50

Sep18 - 435.50 / 437.50

Oct18 - 431.75 / 433.75

Nov18 - 427.50 / 429.50

Dec18 - 424.25 / 426.25

Q3-18 - 439.75 / 441.75

Q4-18 - 428.00 / 430.00

Q1-19 - 416.50 / 419.00

Q2-19 - 404.50 / 407.00

CAL19 - 385.00 / 388.00

CAL20 - 312.00 / 317.00

Rotterdam 3.5%

Jul18 - 415.50 / 417.50

Aug18 - 412.00 / 414.00

Sep18 - 408.00 / 410.00

Oct18 - 403.50 / 405.50

Nov18 - 399.00 / 401.00

Dec18 - 394.50 / 396.50

Q3-18 - 412.00 / 414.00

Q4-18 - 399.25 / 401.25

Q1-19 - 387.50 / 390.00

Q2-19 - 373.50 / 376.00

CAL19 - 349.50 / 352.50

CAL20 - 284.50 / 289.50

Tsurugidake naming ceremony. MOL holds naming ceremony for fourth LNG dual-fuel VLCC  

Vessel, named Tsurugidake, features an LNG fuel tank with a capacity exceeding 10,000 cbm.
VPS Carbon Reduction seminar graphic. VPS to host Bergen seminar on marine fuel quality, lubricants and decarbonisation regulation  

Free-to-attend event on September 16 will feature speakers from VPS and DNV.
Launching ceremony of Carlotta Cosulich. Cosulich Marine Energy launches third methanol-ready bunker tanker in China  

Carlotta Cosulich launched at Taizhou Maple Leaf Shipyard, leaving one vessel in series still to come.
Carnival Corporation logo. Carnival's CSMART seeks specialist instructor for LNG-as-fuel training in Netherlands  

Role focused on delivering training to through classroom instruction and simulator-based learning.
Port of Galveston. Stabilis Solutions nears 100 LNG bunkering operations at Galveston  

Houston-based supplier highlights its Gulf Coast LNG bunkering record as plans advance for new liquefaction facility.
Central control room at the green methanol plant. Towngas hosts Hong Kong government delegation at Inner Mongolia green methanol plant  

Hong Kong's Transport and Logistics Bureau tours VENEX facility as green methanol capacity scales to 300,000 tonnes.
CMA CGM Notre Dame vessel at Singapore Port. Singapore 12-month bunker calls hit all-time high in July  

TTM calls at world's largest bunkering hub reach record levels despite softer sales volumes.
Cargo port in Singapore. Singapore T3M bunker sales stay below 14m tonnes for fourth month running  

Rolling three-month volumes remain subdued despite modest month-on-month recovery in July.
Shore power system launch at Port of Callao. Peru’s Port of Callao launches first shore power system in Latin America  

DP World Callao’s onshore power supply system could cut over 6,300 tonnes of CO₂ annually.
Aristodimos vessel. New Times Shipbuilding delivers LNG dual-fuel crude oil tanker to Capital  

Chinese yard hands over 155,500-dwt vessel in ceremony attended by owner’s representative.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG / LBM / LBG Biofuel Biogas Biomethanol Dual-fuel E-fuel E-methane / e-NG E-methanol Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind



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