Singapore Market Commentary (with evening update)

Thu 27 Aug 2009, 06:09 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo closed steady to marginal firmer with no physical deal traded, even though much rallies were seen on the screen; Gasoil cargo concluded weak by about USD0.90/BBL, supported by only one cargo deal.

NYMEX Crude assessment for future contracts are showing some dip now. Meantime, our bunker indication remains unchanged except the MDO/MGO which are adjusted downward, amid below average demand till now.

Morning Commentary

NYMEX Crude price closed softer last night to conclude at USD71.43 a barrel and WTI Access is showing some weakness this morning.

Similarly, Fueloil paper opened with a decline of USD4.00/MT while Gasoil paper was talked lower by USD1.10/BBL today. Meantime, our bunker indication remains broadly unchanged for all grades until we see how the Cargoes assessment will react this afternoon.

MGO Singapore Singapore (SG)


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