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 closed down for the last day of the month without any particular news. Most of the oil trading was concentrated on the US WTI futures while Brent have been mostly stable through the week. The July WTI contract settled at $102.71/bbl, down -$0.87 while the July Brent futures closed at $109.41/bbl, down -$0.56. This morning the May Chinese official Manufacturing figure came out at 50.8 in May compared with 50.4 in April boosting market sentiment and lifting crude futures. A reading above the 50 level mark implies growth and the improvement could be due to the last Chinese stimulus measures introduced to support economic growth. This month the oil market will be watching the OPEC meeting scheduled Thursday the 11th of April. Today we will see the US May Market PMI and also the US May ISM Manufacturing data being released. This morning crude prices are trading higher.

Fueloil Specifics

The Singapore fuel oil prices printed lower by -$1.25 to -$0.5 during the Platts window. The delivered bunker premiums were around +$4.0 above cargo prices last Friday. Please take note that China, Hong Kong will be closed today for public holiday. Barges fell roughly $3.0 in the window. delivered prices traded around $1.5 higher.

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) (0,87) 102,71 ↓ 102,87 102,05 100,04 97,96 95,25 93,38 ICE Brent Swap (1st month) (0,56) 109,41 ↓ 109,31 108,58 107,38 106,39 105,11 104,00 ICE Gasoil Swap (1st month) (12,75) 892,50 ↓ 895,25 896,92 898,83 896,53 - - 3.5% Barges FOB Rtdm (3,25) 577,25 ↓ 579,00 578,25 575,75 569,50 568,25 564,25 3.5% Cargoes FOB Med (5,00) 578,75 ↓ 578,25 575,50 574,50 566,50 564,75 572,75 1.0% Cargoes FOB NWE (4,00) 631,00 ↓ 632,50 621,50 616,50 600,25 589,50 585,50 3% no. 6 USGC WB (0,07) 91,53 ↓ 91,10 90,23 89,85 88,86 88,43 87,73 380 CST Cargoes FOB S'pore (1,25) 599,50 ↓ 600,50 597,00 593,50 590,50 589,25 585,25 0.1 % GO Barges FOB Rtdm (13,50) 890,50 ↓ 896,25 897,25 899,25 898,25 - - Physical Rotterdam 380 CST (3,00) 578,25 ↓ 584,25 583,50 581,00 574,75 573,50 569,50 Physical Singapore 380 CST (1,00) 604,00 ↓ 605,75 602,25 598,75 595,75 594,50 590,50

Economy fundamentals this week

Fundamental Indicators Statistic Importance Date Time Period Consensus Last Actual Chicago PMI Medium 30-May 9:45 AM May 60.0 63.0 65.5 Michigan Sentiment Medium 30-May 9:55 AM May 81.0 81.8 81.9 ISM Index High 2-Jun 10:00 AM May 55.6 54.9   Construction Speding Medium 3-Jun 10:00 AM Apr 0.7% 0.2%   Factory Orders Medium 3-Jun 10:00 AM Apr 0.5% 1.1%   Auto Sales Medium 3-Jun 2:00 PM May - 5.3M   MBA Mortgage Index Low 4-Jun 7:00 AM May - -   ADP Employment change Medium 4-Jun 8:15 AM May 200K 220K   Trade Balance Low 4-Jun 8:30 AM Apr -$41.3 -$40.4B   ISM Services Medium 4-Jun 10:00 AM May 55.5 55.2   Crude Inventories High 4-Jun 10:30 AM 31-May - 1,657M   Intial Claims High 5-Jun 8:30 AM 31-May 310K 300K   Continuing Claims High 5-Jun 8:30 AM 24-May 2,650K 2,631K   Nonfarm Payroll High 6-Jun 8:30 AM May 220K 288K   Unemployment rate High 6-Jun 8:30 AM May 6.4% 6.3%   Consumer Credit Medium 6-Jun 3:00 PM Apr $15.0B $17.5B

Source: OW Risk Management