Singapore Market Commentary (with evening update)

Tue 27 Apr 2010, 06:47 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo closed weaker by about USD1.50/MT, supported by two deals traded. Gasoil cargo fell by about USD0.90/BBL with no deal being reported.

WTI Access trading was showing a further dip earlier, prompting some players to hold back with their requirements and stay on the sidelines. Meantime, our bunker indication is revised lower only for the MDO/MGO, amid above average demand.

Morning Commentary

NYMEX Crude price slid down last evening to settle at USD84.20 a barrel, dragging down both Paper values. Fueloil paper opened softer by about USD4.00/MT, while Gasoil paper was talked weak by a dollar a barrel today.

WTI Access trading is showing further dip this morning to as low as USD83.63 a barrel. Meantime, our bunker indication is revised downward marginally for all grades.

MGO Singapore Singapore (SG)


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