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Wed 3 Jun 2009, 06:03 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo closed firmer by USD2.00/MT with four physical trades changed hand while Gasoil cargo concluded with a deal done on screen, yet surged strongly again today by about USD2.00/BBL.

WTI Access trading is showing some weakness moments ago though. Delivered prices were quoted almost par to marginally hike for the Intermediate Fuel Oil, but more expensive for the Distillates. Meantime, our bunker indication is revised further upward for the MDO/MGO while maintained for the remaining grades. Demand seems to be below average till now.

Morning Commentary

NYMEX Crude price closed steady last night and WTI Access trading is showing flat with little change this morning. Yet Fueloil paper opened firmer by USD2.00/MT and Gasoil paper was valued bullish by USD1.80/BBL incremental today.

This will likely pushed the Distillate prices to reach USD600/MT and beyond if the cargo sentiment this afternoon drives it further. For this, our bunker indication is revised higher only for the MDO/MGO, but remains unchanged for the remaining grades. .

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



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