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

Yesterday Oil managed to rebound but failed to close over strong resistance. Market mainly stays supported by the Ukrainian turmoil but is also under pressure by ample Oil stock supplies. The June WTI futures inched up +$0.44 to $101.28/bbl and the Brent contract up +$0.88 to settle at $108.98/bbl. The API weekly stocks showed some built in Crude and Gasoline of 3mbbl and 0,7 mbbl respectively and a slight draw of 0,05 mbbl in Gasoline. The US DOE Inventory Report by the US Energy Department will be released later today and the expectations are as follows: Crude +2.37 mbbl, Gasoline -0.60, Distillates +0.58. Today the market will also focus on the FOMC Rates decision and the US 1st Quarter GDP. This morning, crude prices are trading down.

Fueloil Specifics

The NWE bunker fuel oil markets saw a relatively quiet day. Delivered 380cst product in Rotterdam was assessed app.$1/mt up from previous close and a dollar more in Antwerp. LSFO prices remained on the higher side supported by tight prompt avails and delays at loadings. The Singapore fuel oil prices fell -$5.0 during the Platts window yesterday tracking the fall in the crude values. The delivered bunker premiums were estimated at $3.75 above cargo prices. The Singapore market will be closed tomorrow on public holiday and will reopen on Friday. This morning both markets are trading slightly lower.

Settlement & Indications (mid values)

Product Yesterday's Values   Forward Indications Product Change Last Dir. May Jun Jul Q314 Q414 Q115 NYMEX WTI Swap (1st month) 0,44 101,28 ↓ 100,11 99,42 97,67 97,69 97,69 95,33 ICE Brent Swap (1st month) 0,88 108,98 ↓ 108,22 107,69 107,08 106,49 104,94 102,70 ICE Gasoil Swap (1st month) 6,25 920,25 ↓ 910,92 908,50 906,25 905,11 897,08 - 3.5% Barges FOB Rtdm 1,50 574,00 ↓ 572,50 572,75 572,50 571,50 567,25 566,00 3.5% Cargoes FOB Med 2,25 571,75 ↓ 570,25 570,00 569,00 566,00 564,25 562,50 1.0% Cargoes FOB NWE 2,50 613,00 ↓ 606,00 604,25 603,00 601,50 592,50 583,50 3% no. 6 USGC WB 0,05 91,05 ↓ 90,50 89,82 89,60 89,39 88,75 88,40 380 CST Cargoes FOB S'pore (5,25) 585,75 ↓ 588,75 591,50 591,50 591,50 590,00 589,00 0.1 % GO Barges FOB Rtdm 6,50 917,75 ↓ 911,25 909,25 907,25 906,25 898,25 - Physical Rotterdam 380 CST 1,00 575,25 ↓ 577,75 578,00 577,75 576,75 572,50 571,25 Physical Singapore 380 CST (5,00) 591,00 ↓ 594,00 596,75 596,75 596,75 595,25 594,25

Economy fundamentals this week

Fundamental Indicators Statistic Importance Date Time Period Consensus Last Actual Pending Home Sales Medium 28-Apr 10:00 AM Mar 0.0% -0.8% 3.4% Case-Shiller 20-city Index Medium 29-Apr 9:00 AM Feb 13.0% 13.2% 12.9% Consumer Confidence Medium 29-Apr 10:00 AM Apr 83.5 82.3 82.3 ADP Employment Change Medium 30-Apr 8:15 AM Apr 215K 191K - GDP-Adv. High 30-Apr 8:30 AM Q1 1.3% 2.6% - Chicago PMI Medium 30-Apr 9:45 AM Apr 56.5 55.9 - FOMC Rate Decision High 30-Apr 2:00 PM Apr 0.25% 0.25% - Initial Claims Medium 1-May 8:30 AM 26-apr 325K 329K - PCE Prices- Core Medium 1-May 8:30 AM Mar 0.2% 0.1% - ISM Index High 1-May 10:00 AM Apr 54.2 53.7 - Nonfarm Payrolls High 2-May 8:30 AM Apr 200K 192K - Unemployment Rate High 2-May 8:30 AM Apr 6.6% 6.7% - Factory Orders Medium 2-May 10:00 AM Mar 1.5% 1.6% -

Source: OW Risk Management