---

Technical indicators: bullish

Oil prices bolster today, on uncertainty about the Libyan crude flows and concerns the unrest will spread to other North African and Middle East regions.

Yesterday oil prices fell during eletronic trading after the Arab League said a peace plan for Libya was under consideration, several support lines were breached and stop-loss selling orders were triggered. Than prices recovered again till late afternoon, when traders took some profit. But after the latest news of a shortage in EUrope, prices rose again.

ICE Gasoil contract for March delivery settled at 959.50 dollars Thursday night. This was 5.25 dollars below Wednesday's settlement. Volume with some 49,000 deals at average.

The Stochastic of WTI remains bullish while the Stochastic for Brent is not giving a clear signal to the markets. Should Brent breach its first support line, Stochastic will show a selling signal and many stop-loss orders will be triggered. Analystes are seen prices consolidating on a high level. The first support for the WTI crude is seen at 101.00 dollars, the first resistance at 102.85 dollars. The Brent's first resistance is seen at 116.00 dollars, the first support is at 113.75 dollars.

U.S.

Nymex Access losing: After Yesterday's volatile trade, oil prices are still hovering on a high level this morning. Brent oil held steady near 115 dollars on this morning over doubts that a Venezuelan peace proposal would resolve Libya's crisis, while payrolls data from the United States are likely to reaffirm a recovery in the world's largest energy consumer. The traded volume is at everage.

Houston (ex-wharf indications 3-3)

380 cst $642
180 cst $660
MDO $987

Very tight avails for 180 cst
New Orleans (ex wharf indications 3-3)

380 cst $645
180 cst $663
MDO $951

Singapore (correct as of 1430hrs LT - delivered indications)

Crude is gaining still with WTI +$1.06 Singapore paper is cooling with +$0.50 for 180 cst and +$0.50 for 380 cst for March, and for Apr 180 cst +$0.25 and 380cst +$0.50 with MGO March contracts at +$1.25 and for Apr at +$1.24 The cargo market is looking for direction, losing slightly with 180cst -$1.81, 380cst -$3.78 and MGO +$0.87.

The Singapore fuel oil markets dropped ranging around $1.50- 4.00 yesterday during the Platts window tracking weaker crude movement. The Singapore heavy residual fuel inventory reported a draw of -0.83 mbbl to 19.35 mbbl on robust bunker demand. The bunker delivered premiums were around $13.00 above cargo price yesterday. Bunker fuel swaps were down more than $8.00/mt along the curve yesterday both in Singapore and Rotterdam, with losses more pronounced in the later market. Forward curve remains backwardated in both markets- remarkably more pronounced in Singapore papers where Cal12 Swaps are offered at more than $20.00/mt discount versus spot price. This morning both markets are trading higher.

High premiums for prompt deliveries.

380 cst $644
180 cst $660
MDO $980

Fujairah (delivered indications 4-3)

380cst: $635
180cst: $669
MGO: $994

Rotterdam

Indications for delivered bunkers:

380cst: $602
(1.0%): $641
180cst: $618
(1.0%): $685 (very low avails)
MGO 0.1%S: $975