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Evening Price Update

Fueloil cargo closed steady to marginally weak with a deal changing hands. Gasoil cargo concluded firm instead by about almost a dollar a barrel. No deal reported.

Delivered prices were offered almost on a par compared to yesterday, except the Distillates, which were being quoted more expensive. WTI Access trading seems to be showing quite stable to slightly soft since morning. Meantime, our bunker indication is revised further upward for the MDO/MGO, amid below average demand so far.

Morning Commentary

NYMEX Crude price surged by USD0.60 a barrel last night upon closing. As a result, it pushed up Papers market slightly today.

Though WTI Access trading is showing weak this morning. Both Fueloil and Gasoil papers were talked firmer by about USD2.00/MT and USD0.85/BBL respectively. This could have driven the bunker market upward this afternoon. However, it is too early to tell unless the Cargoes trading can support this sentiment. Meantime, our bunker indication is revised higher only on the MDO/MGO.