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     Oil Crude prices started to recover after the previous day heavy losses but plunged again into the US session. The International Energy Agency (IEA) has revised downward its 2013Oil demand outlook. Market retreated from positive territory into the red as the US weekly jobless claims rose more than expected. Note that the Chinese Hang Seng fell -2.73% on growing fears around the bird flue outbreak which killed five people. Today the market is waiting the US March Nonfarm Payroll and unemployment data. US labor data is one of the main indicators watched by the Federal Reserve for their US monetary policy forward .A good number above 200 k new jobs created in March could push the Fed to end its bonds buying program earlier than the end of year. The Crude Oil May WTI contract dropped more than $1.0 to settle at $93.26/bbl and Brent futures closed at $106.34, a decline of -$0.77. This morning, crude is trading roughly flat.       Fueloil Specifics     The NWE bunker fuel oil prices closed another day with double digit losses yesterday. Delivered 380cst product in Rotterdam posted $13/mt loss while in Antwerp it was assessed nearly $14/mt down from previous days close. Demand picked up in all major ports with suppliers reporting really busy day. The Singapore fuel oil markets shredded a massive -$18 during the morning Platts window yesterday tracking crude values. The latest Singapore heavy residual inventory saw a slight draw of -0.75 mbbl to 16.35 mbbl; one of the recent lows, however, it should balance out by western arbitrages for April that is expected at a 3 month high. The delivered bunker premiums were around $8.5 above cargo prices yesterday. This morning both markets are trading higher.        Settlement & Indications (mid values)     Product Yesterday's Values Forward Indications Product Change Last Dir. Apr May Jun Q313 Q413 2014 NYMEX WTI Swap (1st month) (1,19) 93,26 ↓ 93,24 93,53 93,73 93,49 92,55 90,39 ICE Brent Swap (1st month) (0,77) 106,34 ↓ 106,17 106,01 105,75 105,00 103,71 101,02 ICE Gasoil Swap (1st month) (24,75) 888,00 ↑ 894,83 898,00 900,83 902,75 902,06 887,50 3.5% Barges FOB Rtdm (12,50) 586,50 ↑ 590,75 590,25 589,50 587,75 584,75 576,75 3.5% Cargoes FOB Med (14,75) 573,25 ↑ 582,25 583,50 584,25 584,25 578,50 573,75 1.0% Cargoes FOB NWE (13,75) 597,50 ↑ 605,25 610,25 614,00 616,25 613,25 605,00 3% no. 6 USGC WB (0,47) 93,28 ↑ 93,40 93,15 92,90 92,40 91,65 90,40 380 CST Cargoes FOB S'pore (18,50) 618,75 ↑ 616,50 613,75 613,25 612,25 609,50 604,25 0.1 % GO Barges FOB Rtdm (24,75) 887,00 ↓ 896,25 899,25 902,25 903,25 902,25 889,25 Physical Rotterdam 380 CST (13,00) 592,25 ↑ 598,00 597,50 596,75 595,00 591,00 585,00 Physical Singapore 380 CST (17,00) 626,50 ↑ 623,75 621,00 620,50 619,50 616,75 611,50       Economy fundamentals this week     Fundamental Indicators Statistic Importance Date Time Period Consensus Last Actual ISM Index High 01-apr 10:00 AM Mar 54.5 54.2 51.3 Factory Orders Medium 02-apr 10:00 AM Feb 2.5% -2.0% 3.0% ADP Employment Change Medium 03-apr 8:15 AM Mar 200K 198K 158K ISM Services Medium 03-apr 10:00 AM Mar 55.0 56.0 54.4 Challenger Job Cuts Medium 04-apr 7:30 AM Mar NA 7.0% 30.0% Initial Claims Medium 04-apr 8:30 AM 30-mar 340K 357K 385K Nonfarm Payrolls High 05-apr 8:30 AM Mar 185K 236K - Unemployment Rate High 05-apr 8:30 AM Mar 7.8% 7.7% - Consumer Credit Medium 05-apr 3:00 PM Feb $12.0B $16.2B - Medium 05-apr 3:00 PM Feb $12.0B $16.2B -

Source: OW Risk Management