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 were trading range-bound in low volumes due to Easter holidays in the European markets. The June Brent contract rose +$0.42 to settle at $109.95/bbl while the May WTI inched up +$0.07 to $104.37/bbl. The May WTI contract will expire later today while June the next most WTI contract closed at $103.65/bbl, up +$0.28. The US dollar remains supported, holding  a 2 week high which to a certain extent capped the Oil rise. Uncertainty surrounding the political situation in Ukraine continue to support oil prices. Today we will see The Existing home sales for March and Richmond Fed Manufacturing. Tomorrow we will have a release of the Chinese Manufacturing data compiled by HSBC.

Fueloil Specifics

The Singapore fuel oil prices started the week after the long Easter holiday, gaining between +$0.5 to +$1.5 during the Platts window yesterday. The delivered bunker premiums were around +$2.5 above cargo prices yesterday. Barges closed down $2.5 on Thursday to $575.5 while Rotterdam prices fell $1.0 to $580.0

Settlement & Indications (mid values)

Product Yesterday's Values   Forward Indications Product Change Last Dir. jun jul aug Q314 Q414 Q115 NYMEX WTI Swap (1st month) 0,77 104,37 ↑ 101,93 100,94 100,94 0,00 99,94 97,02 ICE Brent Swap (1st month) 1,97 109,95 ↑ 108,94 108,38 108,38 0,00 106,15 103,77 ICE Gasoil Swap (1st month) 23,50 927,50 ↑ 919,83 918,00 917,67 918,44 914,31 - 3.5% Barges FOB Rtdm (2,50) 575,25 ↑ 580,75 581,25 580,75 580,75 577,25 576,00 3.5% Cargoes FOB Med (5,25) 565,75 ↑ 577,00 31,25 30,25 577,75 574,00 572,50 1.0% Cargoes FOB NWE (5,75) 615,25 ↑ 611,00 610,50 610,00 610,00 602,00 594,25 3% no. 6 USGC WB 0,16 91,62 ↑ 90,85 90,57 90,47 90,37 89,87 89,50 380 CST Cargoes FOB S'pore 1,00 586,25 ↑ 596,00 596,75 597,00 599,00 597,50 596,00 0.1 % GO Barges FOB Rtdm (4,00) 919,00 ↑ 920,25 919,25 917,25 917,25 912,25 - Physical Rotterdam 380 CST (1,00) 581,00 ↑ 586,00 586,50 586,00 586,00 582,50 581,25 Physical Singapore 380 CST 0,00 590,50 ↑ 601,25 602,00 602,25 604,25 602,75 601,25

Economy fundamentals this week

Fundamental Indicators Statistic Importance Date Time Period Consensus Last Actual Consumer Credit Medium 7-Apr 3:00 PM Feb $13.5B $13.7B $16.5B Wholesale Inventories Medium 9-Apr 10:00 AM Feb 0.6% 0.6% 0.5% Intial Claims Medium 10-Apr 8:30 AM 05-apr 325K 326K 300K Continuing Claims Medium 10-Apr 8:30 AM 29-mar 2850K 2836K 2776K Treasury Budget Medium 10-Apr 2:00 PM Mar NA -$106.5B -$36.9B Core PPI Medium 11-Apr 8:30 AM Mar 0.1% -0.2% - Mich Sentiment Medium 11-Apr 9:55 AM Apr 81.0 80.0 -

Source: OW Risk Management