Singapore Market Commentary (with evening update)

Tue 11 Aug 2009, 05:50 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Generally, Cargoes assessment closed steady this afternoon. Fueloil cargo dipped lower marginally while Gasoil cargo concluded slightly soft. Delivered prices were quoted almost on a par with last Friday, if not below.

WTI Access trading is showing some gains now. Meantime, our bunker indication is revised downward accordingly, amid average demand

Morning Commentary

NYMEX Crude price dipped overall on Friday and last night to settle at USD70.60 a barrel and WTI Access trading is showing steady this morning.

After a long weekend, Singapore Papers market opened rather mixed. Fueloil paper opened slightly weak, declining by USD2.00/PMT while Gasoil paper was talked firmer with USD0.80/BBL hike. Meantime, our bunker indication is revised upward only on the MDO/MGO and we shall see how the Cargoes assessment will head this afternoon.

MGO Singapore Singapore (SG)


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