Saturday, 12 July 2025 | 09:32
SPONSORS
View by:

Daily Bunker Fuel and Oil Report

Wednesday, 29 May 2013 | 09:14
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 surged up higher after US and UK markets reopened after a long weekend. Market was led by firmer equities that were supported by positive US economic data lifting expectations of improved demand from the world's top consumer. US March home prices saw a 10.9% increase year on year while May consumer confidence index rose to its highest level since Feb 2008. Crude prices were also supported by increasing geopolitical tensions in the Syria that might trigger more conflicts in the Middle East. The July WTI futures closed $95.01/bbl, up by +$0.86 while Brent settled $104.23/bbl, +$1.61. This morning, crude is trading down.

 
 
  Fueloil Specifics  
 
The NWE bunker fuel oil prices firmed yesterday supported by stronger crude movements. Delivered 380cst product in Antwerp was assessed app.$12/mt up versus previous days close while it was even stronger in Rotterdam- up by nearly $15/mt. Both ports continuously report sluggish demand and tight product avails. Premiums for prompt hsfo product were said to be above $10/mt. The Singapore fuel oil markets rose up more than +$5.0 during the Platts window yesterday. Supplies were ample as strong incoming cargoes flooded the market while demand was softer. The delivered bunker premiums were around +$7.25 above cargoes prices as crude strengthen after the window. This morning both markets are trading slightly down.

 
 
  Settlement & Indications (mid values)  
 
Product Yesterday's Values Forward Indications
Product Change Last Dir. Jun Jul Aug Q313 Q413 2014
NYMEX WTI Swap (1st month) 0,86 95,01 94,45 94,58 94,47 94,41 93,17 90,75
ICE Brent Swap (1st month) 1,61 104,23 103,74 103,44 103,08 103,07 101,95 99,44
ICE Gasoil Swap (1st month) 17,25 875,75 872,00 873,42 875,17 875,22 877,75 866,62
3.5% Barges FOB Rtdm 12,50 585,50 583,75 581,00 579,00 580,00 575,75 568,50
3.5% Cargoes FOB Med 12,50 578,25 578,00 575,75 574,00 575,00 570,00 565,00
1.0% Cargoes FOB NWE 11,00 607,50 609,75 612,00 610,00 610,50 605,00 595,25
3% no. 6 USGC WB 1,56 91,93 91,50 91,25 91,00 91,00 90,25 89,55
380 CST Cargoes FOB S'pore 5,75 601,75 605,25 604,50 602,50 602,50 599,00 592,50
0.1 % GO Barges FOB Rtdm 21,50 877,25 872,25 874,25 875,25 875,25 878,25 867,25
Physical Rotterdam 380 CST 15,00 592,25 589,00 586,75 584,75 585,25 580,00 574,25
Physical Singapore 380 CST 4,50 602,50 612,50 611,25 609,25 608,75 605,25 601,25
 
 
  Focus of the day: Singapore  
 
Residual-fuel inventories in Singapore, Asia's largest oil-trading and storage center, fell for the first time in four weeks, according to a unit of the Ministry of Trade and Industry. Stockpiles including fuel oil and low-sulfur waxy residue and excluding bitumen declined 1.7 million barrels, or 7.4%, to 20.7 million in the seven days to yesterday, International Enterprise Singapore said today in an e-mailed statement. Supplies dropped from 22.3 million the previous week, the highest level in five months. Light-distillate inventories including naphtha, gasoline and reformate climbed 800,000 barrels, or 8.3%, to 10.5 million, according to the data. That’s the first increase in three weeks. Stockpiles of middle distillates including gasoil, or diesel, and kerosene decreased 237,000 barrels, or 2.5%, to 9.3 million, the ministry’s data showed. Supplies slid to a four-week low. Meanwhile earliest avails for Singapore would be from June 1st onwards. Cargo avails are still quite healthy.

 
 
  Economy fundamentals this week  
 
Fundamental Indicators
Statistic Importance Date Time Period Consensus Last Actual
Case- Schiller 20-city Index Medium 28-May 9:00 AM Mar 10.0% 9.3% 10.9%
Consumer Confidence High 28-May 10:00 AM May 72.5 68.1 76.2
Initial Claims Medium 30-May 8:30 AM 25-May 345K 340K -
Continuing Claims Medium 30-May 8:30 AM 18-May 3000K 2912K -
GDP-2nd estimate High 30-May 8:30 AM Q1 1.2% 1.2% -
Pending Home Sales Medium 30-May 10:00 AM Apr 0.0% 1.5% -
Personal Income Medium 31-May 8:30 AM Apr -0.2% 0.2% -
Chicago PMI Medium 31-May 9:45 AM May 49.5 49.0 -
Michigan Sentiment Medium 31-May 9:55 AM May 82.5 83.7 -
 
 


Source: OW Risk Management

Newer news items:

Older news items:

Comments
    There are no comments available.
    Name:
    Email:
    Comment:
     
    In order to send the form you have to type the displayed code.

     
SPONSORS

NEWSLETTER