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 oil prices fell yesterday after the release of the Chinese Industrial output which showed a slower pace of growth igniting concerns on demand forecast for oil. The Oil Market is generally without much guidance and remains under pressure on the general view that Middle East supply risk have diminished and that for the time being there is enough Oil out there. The March WTI contract closed at $94.59/bbl. and Brent dropped -$0.13 to $106.35/bbl. This week there is no US economic data with the exception of Thursday. The weekly API stocks numbers will be out only Wednesday.  This morning, crude prices are trading up 0,50%.

Fueloil Specifics

The NWE bunker fuel oil markets closed slightly lower yesterday. Delivered 380cst product in Rotterdam and Antwerp was assessed app.$2/mt down. Suppliers reported sluggish demand and good product avails both for hsfo and lsfo. The Singapore fuel oil markets opened the week lower, loosing $3.0-1.0/mt during the Asian Platts window yesterday. The physical fuel oil cargo remains strong with delivered bunker premiums ranging between +$6.0 and +$8.0 above cargo prices. This morning both markets are trading higher.

Settlement & Indications (mid values)

Product Yesterday's Values Forward Indications Product Change Last Dir. Feb Mar Apr Q214 Q314 Q414 NYMEX WTI Swap (1st month) (0,16) 94,37 ↑ 94,46 94,28 93,88 93,19 90,70 88,70 ICE Brent Swap (1st month) (0,13) 106,35 ↑ 106,91 106,28 105,83 105,41 104,05 102,92 ICE Gasoil Swap (1st month) (8,50) 907,75 ↑ 912,92 907,67 903,33 900,50 896,56 891,64 3.5% Barges FOB Rtdm (1,25) 557,00 ↑ 567,00 569,00 569,50 569,25 567,75 564,50 3.5% Cargoes FOB Med (1,50) 563,25 ↑ 563,75 566,00 566,75 566,50 565,00 561,75 1.0% Cargoes FOB NWE (8,00) 574,00 ↑ 583,50 586,75 589,75 591,00 590,00 583,25 3% no. 6 USGC WB (0,04) 88,94 ↑ 89,30 89,05 89,30 89,05 89,05 88,80 380 CST Cargoes FOB S'pore (1,00) 602,75 ↑ 602,25 597,00 593,50 591,75 589,25 587,75 0.1 % GO Barges FOB Rtdm (9,00) 903,75 ↑ 914,25 909,25 904,25 902,25 895,25 889,25 Physical Rotterdam 380 CST (2,00) 559,75 ↑ 572,25 574,25 574,75 574,50 573,00 569,75 Physical Singapore 380 CST (2,50) 609,00 ↑ 607,50 602,25 598,75 597,00 594,50 593,00

Economy fundamentals this week

Fundamental Indicators Statistic Importance Date Time Period Consensus Last Actual MBA Mortgage Index Medium 22-Jan 7:00 AM 18-jan NA 11.9% - Initial Claims Medium 23-Jan 8:30 AM 18-jan 330K 326K - Existing Home Sales Medium 23-Jan 10:00 AM Dec 4.87M 4.90M - Leading Indicators Medium 23-Jan 10:00 AM Dec 0.1% 0.8% -

Source: OW Risk Management