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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News



Oil and fuel oil hedging market update

By the Oil Desk at Freight Investor Services.



Image credit: Freight Investor Services (FIS)


Updated on 11 Sep 2018 09:20 GMT

Commentary

Brent crude oil rose 54 cents to $77.37 a barrel after touching a session high of $77.92 a barrel and WTI crude futures settled down 21 cents at $67.54 a barrel. It seems that we have gotten into one of those news ruts, where we get the same news title for days across all news platforms. Again, I will offer all the news story writers a thesaurus to making sure that we have a little variation on the news title of 'Looming Iran sanctions'. There's nothing looming about them, they are already here, and they are already having an effect. We have seen a strong bullish move on oil futures over the past handful of days. I have therefore boiled down most of the main news items in a short ditty for you the remember:

The U.S. is now stalling,
And crude supply is falling,
News stories are boring,
But crude prices are soaring,
Venezuela is collapsing,
This means no relaxing,
Because no one's a clue,
What oil is going to do.

Fuel Oil Market (Sep 10)

The front crack opened at -11.30, weakening to -11.55, before strengthening to -11.35. The Cal 19 was valued at -15.60.

Asia's front-month time spread edged slightly higher on Monday in a sign of stabilizing market sentiment after steady losses over the past month.

The 380 cSt Oct/Nov time spread was trading at about $4 a tonne, up from about $3.70 a tonne on Friday, broker sources said.

Higher arbitrage supplies into Asia have weighed on market sentiment since around mid-August, but steady demand and lower regional output due to refinery maintenance is expected to limit further losses, trade sources said.

Economic data/events (Times are London.)

* ~5pm: EIA Short-Term Energy Outlook

* 9:30pm: API issues weekly U.S. oil inventory report

* Eastern Economic Forum in Vladivostok; through Thursday; energy-related discussions on Tuesday and Wednesday; Russian President Vladimir Putin to meet Chinese President Xi Jinping at forum on Tuesday

* Bloomberg-compiled refinery snapshot for U.S. and Canada, providing offline capacity projections for crude units and FCCs

Singapore 380 cSt

Oct18 - 438.50 / 440.50

Nov18 - 434.25 / 436.25

Dec18 - 430.25 / 432.25

Jan19 - 426.50 / 428.50

Feb19 - 423.00 / 425.00

Mar19 - 419.50 / 421.50

Q4-18 - 434.25 / 436.25

Q1-19 - 422.75 / 424.75

Q2-19 - 412.25 / 414.75

Q3-19 - 396.75 / 399.25

CAL19 - 399.25 / 402.25

CAL20 - 334.25 / 340.25

Singapore 180 cSt

Oct18 - 445.50 / 447.50

Nov18 - 442.00 / 444.00

Dec18 - 439.50 / 441.50

Jan19 - 436.75 / 438.75

Feb19 - 433.50 / 435.50

Mar19 - 430.25 / 432.25

Q4-18 - 442.25 / 444.25

Q1-19 - 432.75 / 434.75

Q2-19 - 423.75 / 426.25

Q3-19 - 411.75 / 414.25

CAL19 - 413.75 / 416.75

CAL20 - 354.25 / 360.25

Rotterdam 3.5%

Oct18 - 417.50 / 419.50

Nov18 - 413.25 / 415.25

Dec18 - 409.75 / 411.75

Jan19 - 407.25 / 409.25

Feb19 - 404.75 / 406.75

Mar19 - 402.25 / 404.25

Q4-18 - 413.50 / 415.50

Q1-19 - 404.50 / 406.50

Q2-19 - 395.50 / 398.00

Q3-19 - 376.50 / 379.00

CAL19 - 377.75 / 380.75

CAL20 - 317.25 / 323.25



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 call +44 20 7090 1120 or email info@freightinvestor.com.






Related Links:

Oil and fuel oil hedging market update
Freight Investor Services Ltd.

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