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Evening Price Update

Cargoes assessment process ended firm this afternoon. Fueloil cargo surged by about USD3.50/MT while Gasoil gained by about USD0.95/bbl. Only a Distillate deal was traded. ICE Brent futures has fallen weak earlier and it is still showing the same as at 1800 hrs local time. However, WTI Access trading has shown some positive hike.

Meantime, our bunker indication is revised upward for the Intermediate Fueloil. MDO/MGO were adjusted downward accordingly as last Friday our system failed to register the changes made. Demand was average till now.

Morning Commentary

Crude futures closed mixed last Friday, notably ICE Brent gained by USD1.63/bbl while NYMEX Crude price dipped marginally instead. In Singapore, swaps assessment for Fueloil and Gasoil opened firm by about USD4.50/MT and USD1.35/bbl respectively.

It is a little too early to tell if Cargoes assessment will follow its Papers' trend. However, Brent futures is showing very weak as at 1200 hrs local time. Meantime, our bunker indication is revised moderately upward for all grades.