Singapore Market Commentary (with evening update)

Tue 6 Apr 2010, 06:45 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo closed firm once again this afternoon by about USD4.50/MT and two deals reported being traded. Gasoil cargo soared further by about USD1.70/BBL, supported by a deal done.

Bunker market was quoting more expensive today, especially the MGO which it has crossed the USD700/MT mark. Though WTI Access trading was showing slight weakness earlier. Meantime, our bunker indication is revised further upward amid below average demand.

Morning Commentary

NYMEX Crude price continued to climb further last night, eventually settling at USD86.62 a barrel.

WTI Access trading is showing marginally weak this morning. However, Papers market still opened firm today along with strong Crude sentiment overnight. Both Fueloil and Gasoil papers were pegged higher by about USD6.00/MT and USD1.10/BBL respectively. Meantime, our bunker indication is revised upward for all grades.

MGO Singapore Singapore (SG)


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