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

Crude prices traded in general flat last Friday. The July WTI contract closed at $102.66/bbl, +$0.18 and Brent settled at $108.61/bbl, down -$0.18. US crude futures did not move much after a close to expected US May Nonfarm Payroll at 217k and an unchanged May unemployment rate at 6.3%. The last Chinese trade data was better than expected with the May Chinese export up +7.0%; higher than the 6.7% the market had been estimating. Imports however tumbled -1,6% against a forecast of +6% causing the trade balance to nearly double from last month to $35.8 bn. The newly elected Ukrainian President is opened for talks with Russia to try to end the violence in the eastern part of the country. No data from the US today. This morning, crude prices are trading higher.

Fueloil Specifics

The Singapore fuel oil prices rose last Friday by +$2.5 to +$3.5 during the Platts window. Delivered bunker premiums traded lower around +$4.5 above cargo prices. In Rotterdam fell -$0.75 in the window while delivered premiums remained unchanged.

Settlement & Indications (mid values)

Product Yesterday's Values   Forward Indications Product Change Last Dir. Jun Jul Aug Q414 Q115 Q215 NYMEX WTI Swap (1st month) 0,18 102,66 ↑ 102,97 102,17 100,06 98,14 95,45 93,45 ICE Brent Swap (1st month) (0,18) 108,61 ↑ 108,72 107,93 106,73 105,82 104,74 104,08 ICE Gasoil Swap (1st month) 0,00 884,00 ↑ 889,00 891,25 893,33 893,01 - - 3.5% Barges FOB Rtdm (0,50) 573,00 ↑ 575,00 574,25 571,75 565,25 564,00 560,25 3.5% Cargoes FOB Med (0,75) 567,50 ↑ 571,25 570,75 569,75 562,50 560,50 568,75 1.0% Cargoes FOB NWE (1,25) 628,00 ↑ 627,75 614,25 610,75 594,75 585,50 582,00 3% no. 6 USGC WB (0,80) 90,06 ↑ 91,00 89,80 89,45 88,54 88,16 87,51 380 CST Cargoes FOB S'pore 3,50 597,75 ↑ 596,00 594,00 592,00 588,75 587,25 584,00 0.1 % GO Barges FOB Rtdm 0,00 882,50 ↑ 890,25 892,25 894,25 893,25 - - Physical Rotterdam 380 CST 0,00 574,25 ↑ 580,25 579,50 577,00 570,50 569,25 565,50 Physical Singapore 380 CST 4,50 602,25 ↑ 601,25 599,25 597,25 594,00 592,50 589,25

Economy fundamentals this week

Fundamental Indicators Statistic Importance Date Time Period Consensus Last Actual Nonfarm Payroll High 6-Jun 8:30 AM May 220K 288K 217K Unemployment rate High 6-Jun 8:30 AM May 6.4% 6.3% 6.3% Consumer Credit Medium 6-Jun 3:00 PM Apr $15.0B $17.5B $26.8 Wholesale Inventories Low 10-Jun 10:00 AM Apr 0.2% 1.1%   Job Openings Medium 10-Jun 10:00 AM Apr - 4.014M   MBA Mortgage Index Medium 11-Jun 7:00 AM 07-jun - -3.1%   Crude Inventories Medium 11-Jun 10:30 AM 07-jun - -3.431M   Treasury Budget Medium 11-Jun 2:00 PM May - -$138.7B   Intial Claims Medium 12-Jun 8:30 PM 07-jun 320K 312K   Continuing Claims Medium 12-Jun 8:30 AM 07-jun 2,625K 2,603K   Retail Sales High 12-Jun 8:30 AM May 1.3% 0.7%   Natural Gas Inventories Medium 12-Jun 10:30 AM 07-jun - -   Export prices ex.ag Medium 12-Jun 8:30 AM May - -1.2%   Import price ex-oil Medium 12-Jun 8:30 AM May - 0.0%   PPI High 13-Jun 8:30 AM 0.2% - 0.6%   Michigan Sentiment Medium 13-Jun 9:55AM Jun 82.5 82.9

Source: OW Risk Management