Singapore Market Commentary (with evening update)

Wed 18 Aug 2010, 05:48 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo closed just firmer, possibly within a dollar surge. Gasoil cargo concluded with a hike of USD0.40/BBL and supported with a deal traded. Bunker market was quoting about the same level as the previous day, though some requirements were still diving below expected levels. This could have been backed by the weakening of WTI Crude, showing moments ago. Meantime, our Bunker indication remains unchanged for all grades, amid average demand.

Morning Commentary

NYMEX Crude price recovered by USD0.53 a barrel last night and WTI Access trading is showing steady to marginally weak this morning.

In Singapore, Fueloil paper opened firmer by about USD1.50/MT while Gasoil paper was talked higher by USD0.75/BBL. It seems that the bunker market has shown some signs of climbing its way up after a week of continuous falls. Meantime, our bunker indication is revised upwards only for the MDO/MGO.

MGO Singapore Singapore (SG)


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