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



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


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 12 Oct 2018 09:15 GMT

Commentary

Brent crude futures fell $2.83 to settle at $80.26 a barrel - a 3.41 percent loss - after hitting a low of $79.80, its weakest since Sept. 24, retreating after hitting a four-year high of $86.74 on Oct. 3. U.S. WTI crude futures fell $2.2 to settle at $70.97 a barrel - a 3.01 percent loss. WTI hit its lowest since Sept. 21. So the EIA data, IMF, and stock market all combined yesterday to nudge this market off a bit of a cliff, tumbling down to basically the $80 mark. The EIA data confirming that stock levels were four times as high as those predicted by analysts (although lower than the API); the IMF cutting its economic growth forecasts; and investors saying "see ya" to world stocks all caused an even more negative reaction than the phrase "and another thing!" in the midst of a 40-minute shouting match with your other half. On a separate note, U.S. oil production has increased its lighter crude percentage. Granted, this is of no massive surprise, due to the nature of their oil production techniques and location, but where it becomes significant is in 2020. U.S. black gold will become black platinum as demand for lighter sweeter crudes increases to deal with the IMO sulphur 0.5% cap. Some food for thought over the weekend. Good day.

Fuel Oil Market (Oct 11)

The front crack opened at -9.90, weakening to -10.15, before strengthening to -9.85. The Cal 19 was valued at -14.80.

Cash premiums for cargoes of Asia's mainstay 380 cSt highsulphur fuel oil slipped on Thursday for a fourth straight session to a three-week low.

The lower crude oil prices, however, failed to boost the frontmonth 380 cSt barge fuel oil crack, which was at minus $10.09 a barrel on Thursday, down from Wednesday's settlement of minus $10.02 a barrel, Refinitiv data showed.

Singapore fuel oil inventories climbed 6 percent, or 1.089 million barrels (about 163,000 tonnes), to 18.653 million barrels, or 2.784 million tonnes, data from International Enterprise (IE) Singapore showed.

Economic data/events (Times are UK)

* 6pm: Baker Hughes U.S. Rig Count, period Oct 12

* 8pm: Venezuela Crude Oil Basket CNY, period Oct 12

* IEA monthly oil market report, including world supply/demand and September production estimates for OPEC nations

* ICE weekly commitments of traders report for Brent, gasoil

* CFTC weekly commitments of traders report on various U.S. futures and options contracts

Singapore 380 cSt

Nov18 - 480.75 / 482.75

Dec18 - 475.00 / 477.00

Jan19 - 469.25 / 471.25

Feb19 - 463.75 / 465.75

Mar19 - 458.75 / 460.75

Apr19 - 454.00 / 456.00

Q1-19 - 463.75 / 465.75

Q2-19 - 449.25 / 451.25

Q3-19 - 428.00 / 430.50

Q4-19 - 391.50 / 394.00

CAL19 - 431.25 / 434.25

CAL20 - 356.75 / 362.75

Singapore 180 cSt

Nov18 - 488.75 / 490.75

Dec18 - 484.00 / 486.00

Jan19 - 479.50 / 481.50

Feb19 - 473.75 / 475.75

Mar19 - 469.00 / 471.00

Apr19 - 464.50 / 466.50

Q1-19 - 474.00 / 476.00

Q2-19 - 460.25 / 462.25

Q3-19 - 442.00 / 444.50

Q4-19 - 412.75 / 415.25

CAL19 - 445.25 / 448.25

CAL20 - 379.25 / 385.25

Rotterdam 3.5%

Nov18 - 451.75 / 453.75

Dec18 - 446.50 / 448.50

Jan19 - 442.75 / 444.75

Feb19 - 439.00 / 441.00

Mar19 - 435.00 / 437.00

Apr19 - 430.50 / 432.50

Q1-19 - 438.75 / 440.75

Q2-19 - 427.00 / 429.00

Q3-19 - 405.25 / 407.75

Q4-19 - 367.25 / 369.75

CAL19 - 406.00 / 409.00

CAL20 - 337.25 / 343.25



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.

Latest News:

Oil and fuel oil hedging market update
$60s are hard to hold
Silverstream hails air lubrication uptake ahead of 2020
Oil and fuel oil hedging market update
OPEC, non-OPEC oil producers agree to cut 1.2m bbl/d
Aegean secures final approval for initial set of motions
MoU signed to test fuel gas and bunkering systems in Busan
Oil and fuel oil hedging market update
Volatility as OPEC meeting comments emerge; draw in US oil stocks
Quadrise announces open offer to avert Jan winding down process
Aegean rejects Mercuria objections ahead of court hearing
Aegean files motion to protect confidential information




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events