Oil and fuel oil hedging market update

By the Oil Desk at Freight Investor Services.



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Updated on 03 Feb 2017 09:12 GMT

By the Oil Desk at Freight Investor Services Ltd.

Brent closed last night down 0.27 to $56.85 and WTI closed at $53.54 down 0.34. We have rallied 1% in a week. I don't see us climbing much higher than here, even with rumours of the US looking at imposing new sanctions on Iran (all of which are rumoured, I reiterate). With the OPEC/ non-OPEC agreement seemingly being complied with, the market hasn't really reacted that much. One month in, everyone is compliant. Let's see where we are in another two months, then we can really judge.

Economic Date/Events (London times)

* 1:30pm: U.S. Jan. change in nonfarm payrolls, est. 180k (prior 156k); U.S. Jan. unemployment rate, est. 4.7% (prior 4.7%)

* 2:45pm: U.S. Markit services PMI Jan. F, (prior 55.1)

* 3pm: U.S. Jan. ISM non-manf. composite, est. 57 (prior 57.2, revised 56.6); U.S. durable goods orders Dec. F, (prior -0.4%); U.S. factory orders Dec., est. 0.5% (prior -2.4%)

* 6pm: Baker Hughes weekly U.S. oil rig count, prior 566

* 8:30pm: Commodity Futures Trading Commission weekly report on futures and options positions

* Rosneft, Phillips 66 earnings

Singapore 380cst

Mar17 - 316.25 / 318.25

Apr17 - 316.25 / 318.25

May17 - 315.50 / 317.50

Jun17 - 314.75 / 316.75

Jul17 - 313.75 / 315.75

Aug17 - 313.00 / 315.00

Q2-17 - 315.50 / 317.50

Q3-17 - 313.25 / 315.25

Q4-17 - 310.00 / 312.50

Q1-18 - 308.75 / 311.25

CAL18 - 303.50 / 307.00

CAL19 - 289.00 / 294.00

Singapore 180cst

Mar17 - 322.25 / 324.25

Apr17 - 322.25 / 324.25

May17 - 322.25 / 324.25

Jun17 - 321.75 / 323.75

Jul17 - 320.75 / 322.75

Aug17 - 320.00 / 322.00

Q2-17 - 322.25 / 324.25

Q3-17 - 320.25 / 322.25

Q4-17 - 317.00 / 319.50

Q1-18 - 316.00 / 318.50

CAL18 - 311.00 / 314.50

CAL19 - 297.75 / 302.75

Rotterdam Barges

Mar17 300.50 / 302.50

Apr17 301.25 / 303.25

May17 301.50 / 303.50

Jun17 301.50 / 303.50

Jul17 300.50 / 302.50

Aug17 299.75 / 301.75

Q2-17 301.50 / 303.50

Q3-17 299.75 / 301.75

Q4-17 295.00 / 297.50

Q1-18 294.25 / 296.75

CAL18 289.75 / 293.25

CAL19 274.50 / 279.50



Founded in 2002, Freight Investor Services is a specialist in dry bulk and commodity derivatives, including cargo freight, iron ore, fertilizer and bunker fuel. The company has offices in London, Dubai, Singapore and Shanghai.

For further details about fuel oil swaps or to discuss trading opportunities, please contact Andrew Cullen, Client Relations & Development Manager, on +44 207 090 1126, or email AndrewC@freightinvestor.com.