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Evening Price Update

Fueloil cargo closed steady to marginally weak, supported by a deal done on screen while Gasoil cargo concluded soft, falling about USD0.80/BBL this afternoon.

WTI Access trading has recovered and showing a positive surge moments ago, whereby it has once peaked at USD61.47/BBL. Delivered has been offered softer for Distillates, but not for the heavier grade products as Ex-wharf loading was reported tight. Meantime, our bunker indication is revised lower for the MDO/MGO and adjusted upward for the 180/380cst instead, amid average demand so far.

Morning Commentary

NYMEX Crude price plunged steeply last night upon closing, eventually settling at USD60.14 a barrel. WTI Access trading is making some recovery this morning. Gasoil paper opened weak by edging down by almost a dollar a barrel.

No indicative value was seen for Fueloil paper today, however, we believed it could be valued softer along with bearish crude sentiments. Meantime, our bunker indication remains broadly unchanged for all grades till we see how the Cargoes assessment will head this afternoon.