Singapore Market Commentary (with evening update)

Thu 3 Nov 2011, 04:58 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo closed lower by USD 3-4/MT this evening, which recovered some of its value from this morning's low. Gasoil cargo was down by USD 1.70-1.80/BBL.

Bunker demand was noted average amid still prevailing tight loading situation. Our Bunker indication was revised an inch higher for Fueloil and remains broadly unchanged for MGO.

Morning Commentary

Both ICE Brent Future and WTI Access trading were weaker this morning. Reacting to the weak crude sentiment, Fueloil paper opened much weaker by USD 7.75/MT with Gasoil paper losing about USD 1.75/BBL.

Presently, most Fueloil ex wharf loadings are reported to be still tight. Our bunker indication in the meantime, is revised lower for all grades.

MGO Singapore Singapore (SG)


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