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Evening Price Update

Cargoes market seemed to have recovered along with its papers, except Gasoil cargo. Fueloil cargo dipped marginally by not more than USD2.00/PMT and Gasoil cargo fell sharply by USD2.30/BBL, supported by only a single deal traded on screen.

Delivered products are selling lower - especially the Distillates, but its aggressiveness is somewhat reserved overall as WTI Access trading is firming up now quite strongly. Meantime, our bunker indication remains unchanged except the MDO/MGO which is adjusted downward once again. Demand was notably just below average so far.

Morning Commentary

NYMEX Crude price fell eventually upon closing last night, after maintaining quite a strong positive upward rise throughout the whole of yesterday.

Today, both Fueloil and Gasoil paper opened weak by USD9.00/MT and USD1.75/BBL respectively, even though WTI Access trading is showing moderately firm this morning. For this, our bunker indication is revised slightly lower for all grades, while waiting to see how the cargoes trading will perform this afternoon.