Singapore Market Commentary (with evening update)

Wed 22 Dec 2010, 09:26 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes assessment closed almost same trend as its Papers value this morning. Fueloil cargo gained by about a dollar per MT, supported by three deals traded. Gasoil cargo concluded much firmer by about USD1.30/BBL, notably with two deals reported.

WTI Access trading is moving up now. Meantime, our bunker indication is revised upward once again on the MDO/MGO, amid average demand.

Morning Commentary

NYMEX Crude price continued to surge last night, eventually gaining another USD0.52/BBL. WTI Access trading is showing steady to marginally firm. Without doubt, it pushed up Papers' market as well. Fueloil paper was pegged higher by 50 US cents PMT while Gasoil paper soared by USD1.20/BBL.

Again, bunker market may be driven further up this afternoon if Cargoes assessment can prove to go along the same direction. Meantime, our bunker indication is revised upward only for the distillates.

MGO Singapore Singapore (SG)


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