Singapore Market Commentary (with evening update)

Thu 25 Feb 2010, 08:48 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Once firmed Fueloil paper lost its steam this afternoon. Fueloil cargo too closed almost level or even dipped marginally. On the other hand, Gasoil cargo closed firm by USD 0.60-0.70/BBL. Our Bunker indication was revised lower for Fueloil and remains broadly unchanged for MGO.

Morning Commentary

NYMEX Crude price rebounded last night to settle at USD80.00 a barrel. Once again, it pushed up all Paper values this morning. Fueloil paper opened almost USD6.00/MT higher while Gasoil paper was pegged firm by USD1.15/BBL today.

Without doubt, bunker market will likely be selling more expensive this afternoon if Cargoes trading can further support this trend. Yet, WTI Access trading is showing flat moment ago while writing this update. Meantime, our bunker indication is revised upward for all grades.

MGO Singapore Singapore (SG)


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