Singapore Market Commentary (with evening update)

Fri 7 May 2010, 06:24 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes assessment ended weak this afternoon. Fueloil cargo dipped by almost USD5.00/MT, while Gasoil cargo closed bearish, falling by slightly more than USD2.00/BBL.

Delivered prices were offered lower though, but did not hold long as the WTI Crude sentiment is recovering. Meantime, our bunker indication is revised downward only for the MDO/MGO, amid above average demand.

Morning Commentary

NYMEX Crude price slid down for another consecutive day, closing bearish last night to settle at USD77.17 a barrel.

Similarly, Papers market opened weak too. Both Fueloil and Gasoil papers were pegged soft by around USD10.50/MT and USD2.40/BBL respectively. This will in term drag down delivered prices again if Cargoes trading can show further weakness this afternoon. Meantime, our bunker indication is revised downward for all grades.

MGO Singapore Singapore (SG)


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		IBT Bunkering & Trading launches Singapore desk to complement Hamburg operation German bunker firm says the move gives it round-the-clock coverage across two continents.

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