Friday, 11 July 2025 | 19:30
SPONSORS
View by:

Daily Bunker Fuel and Oil Report

Wednesday, 12 February 2014 | 10:58
A bunker fuel and oil report, detailing the day per day trading patterns and prices in the market.The report is prepared from OW Risk Management and covers all major bunker fuel oil markets around the world, including all major ports, ranging from Singapore to Rotterdam.


Market in Brief  
 
It was a pretty lacklustre session yesterday with both WTI and Brent trapped in a  a $1/bbl  trading range . Yellen’s speech did not have the same impact on oil as it did on US equities which staged an impressive rally that took the S&P back above the 50day moving average and now close to its  52-week high. The bulls are back and it is as if the Emerging Market  rout the last week  was a thing of the past. Crude structure on the other hand faced some liquidation especially in the front where it weakened the most. Technically, WTI has confirmed a close above the 200day MA and is trading near the highs made in Dec13 ($100,76/bbl) which acts as the next point of resistance. Brent is still struggling with the $110/bbl. level. Chinese exports and imports rose sharply in January respectively +10,6% and +10% but some warn that it could be over invoicing that makes these numbers look too good against more sluggish expectations. Brent trading up this morning +0.40c at 109.06

 
 
  Fueloil Specifics  
 
Fuel prices fell slightly in Rotterdam and Antwerp while the 3.5% Rtdm Barges ended a dollar up in the window. The High Sulfur Market remains very liquid while the low sulfur market is still marked by tight avails. In Singapore cash premium for the 380cst fuel oil slid for the sixth session to a more than two week low on Tuesday, amid more supply and lower demand for bunker. Ex-wharf 380cst where assessed -4.00/mt lower at 611.00/mt. Delivered bunker 380cst as well where seen at lower levels around avg. 605/mt to 610.00/mt. Tightness in most loading terminals 380cst cargos and readiness looking 19th Feb14 onwards. Overall bunker premium have maintained at high single digit and as a result from berth congestions resulting from barge tightness we advice customers to advice ETA in well advance notice. Paper market today experienced a rebound for fuel oil, cracks firmed and we saw market up +6.75/mt in the front swap 380FO Bal Feb value 612.75/mt and Mar 380FO traded at 603.75/mt up +3.75/mt

 
 
  Settlement & Indications (mid values)  
 
Product Yesterday's Values   Forward Indications
Product Change Last Dir. Mar Apr May Q214 Q314 Q414
NYMEX WTI Swap (1st month) (0,12) 99,94 99,77 98,93 98,05 98,04 95,46 93,11
ICE Brent Swap (1st month) 0,05 108,68 108,30 107,94 107,94 107,50 106,10 104,42
ICE Gasoil Swap (1st month) 0,50 921,50 920,17 916,67 914,33 914,75 910,11 902,92
3.5% Barges FOB Rtdm 0,50 575,50 579,50 579,50 579,50 579,50 578,75 575,50
3.5% Cargoes FOB Med (3,50) 570,75 576,50 576,75 577,00 577,00 576,00 572,50
1.0% Cargoes FOB NWE 2,25 612,75 608,00 606,00 605,00 605,00 603,00 596,50
3% no. 6 USGC WB (0,10) 90,09 90,20 90,05 90,22 89,97 89,72 87,93
380 CST Cargoes FOB S'pore (2,25) 604,50 603,25 601,50 600,25 600,50 600,00 598,25
0.1 % GO Barges FOB Rtdm 1,00 920,25 921,25 918,25 914,25 915,25 909,25 902,25
Physical Rotterdam 380 CST (4,00) 577,75 584,75 584,75 584,75 584,75 584,00 580,75
Physical Singapore 380 CST (2,25) 614,25 608,50 606,75 605,50 605,75 605,25 603,50
 
 
  Economy fundamentals this week  
 
Fundamental Indicators
Statistic Importance Date Time Period Consensus Last Actual
Wholesale Inventories Medium 11-Feb 10:00 AM Dec 0.6% 0.5% 0.3%
Treasury Budget Medium 12-Feb 2:00 PM Jan NA $2.9B -
Initial Claims Medium 13-Feb 8:30 AM 08-feb 335K 331K -
Retail Sales High 13-Feb 8:30 AM Jan -0.2% 0.2% -
Business Inventories Medium 13-Feb 10:00 AM Dec 0.6% 0.4% -
Industrial Production Medium 14-Feb 9:15 AM Jan 0.6% 0.3% -
Mich Sentiment High 14-Feb 9:55 AM Jan 79.8% 79.2% -


Source: OW Risk Management

Newer news items:

Older news items:

Comments
    There are no comments available.
    Name:
    Email:
    Comment:
     
    In order to send the form you have to type the displayed code.

     
SPONSORS

NEWSLETTER