Singapore Market Commentary (with evening update)

Mon 5 Jul 2010, 06:44 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes assessment ended mixed. Fueloil ended just firmer, possibly by USD1.00-1.50/MT, with a deal done. Gasoil cargo fell instead by around USD0.60/BBL and no physical deal reported.

WTI Access trading is still maintaining at is positive surge, though it is holiday on the 5th July in New York. Meantime, our bunker indication remains unchanged, except the MDO/MGO, which is revised downward slightly, amid below average demand.

Morning Commentary

NYMEX Crude price closed weaker last Friday, settling eventually at USD72.14 a barrel.

In Singapore, Papers opened slightly soft today. Fueloil paper was valued at almost USD3.00/MT lower while Gasoil paper was pegged with a slide of USD0.65/BBL. However, WTI Access trading is showing positive gains this morning. Meantime, our bunker indication shall remain broadly unchanged for all grades.

MGO Singapore Singapore (SG)


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