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 started on a weak trend, but recovered strongly during the US session. Manufacturing data out of China, US and Germany were lower than expected which dampened the market sentiment initially but with speculation that the European Central Bank (ECB) may further ease monetary policy helped support the market. Better US earnings boosted Equities with gains close to 3% in general. The June WTI contract closed at $89.18/bbl, slipping -$0.01 and Brent managed to keep above the $100 mark, settling at $100.31/bbl, losing only -$0.08 . The API Weekly Oil Inventory Report saw a surprising draw in crude stockpile. Market is looking at today's US Energy Department report and the expectations are as follows: Crude +1.5 mbbl, Dist +0.3 mbbl, Gasoil +2 mbbl. In term of economic data the US March Durable goods orders figures will be published. This morning, crude is trading up around +0,30%.        Fueloil Specifics     The Singapore fuel oil markets fell more than -$2.25 during the Platts window yesterday. The delivered bunker premiums eased slightly to around $8.5 to $9.5 above cargo prices yesterday as crude prices softened after the window. Supplies were said to be still tight on prompt dates due to more incoming cargoes congesting terminals.        Settlement & Indications (mid values)     Product Yesterday's Values Forward Indications Product Yesterday's Values Forward Indications               Product Change Last Dir. May Jun jul Q313 Q413 2014 NYMEX WTI Swap (1st month) (0,01) 89,18 ↑ 89,97 90,17 90,21 90,04 89,19 87,15 ICE Brent Swap (1st month) (0,08) 100,31 ↑ 101,11 100,99 100,77 100,50 99,74 97,86 ICE Gasoil Swap (1st month) 2,75 839,50 ↑ 850,50 853,75 856,58 859,22 862,75 858,72 3.5% Barges FOB Rtdm (0,75) 566,00 ↑ 569,50 567,75 566,50 565,25 560,75 555,00 3.5% Cargoes FOB Med (1,00) 561,25 ↑ 565,25 562,75 561,75 560,00 554,25 551,50 1.0% Cargoes FOB NWE (1,50) 573,75 ↑ 583,25 588,00 591,25 590,75 587,50 581,75 3% no. 6 USGC WB (0,27) 88,30 ↑ 87,55 87,05 86,55 85,80 85,80 85,05 380 CST Cargoes FOB S'pore (2,50) 591,00 ↑ 596,25 593,25 599,00 591,00 587,50 582,75 0.1 % GO Barges FOB Rtdm 2,50 836,50 ↑ 850,25 854,25 856,25 859,25 863,25 859,25 Physical Rotterdam 380 CST (3,00) 570,75 ↑ 576,75 575,00 573,75 572,50 568,00 562,25 Physical Singapore 380 CST (4,00) 600,00 ↑ 603,50 600,50 606,25 598,25 594,75 590,00       Economy fundamentals this week     Fundamental Indicators Fundamental Indicators               Statistic Importance Date Time Period Consensus Last Actual Existing Home Sales Medium 22-apr 10:00 AM Mar 5.01M 4.98M 4.92M New Home Sales Medium 23-apr 10:00 AM Mar 415K 411K 417K Durable Orders High 24-apr 8:30 AM Mar -3.1% 5.6%   Crude Inventories Medium 24-apr 10:30 AM 20-apr NA -1.23M   Initial Claims Medium 25-apr 8:30 AM 20-apr 351K 352K   GDP-Adv. High 26-apr 8:30 AM Q1 2.8% 0.4%   Michigan Sentiment - Final High 26-apr 9:55 AM Apr 72.4 72.3

Source: OW Risk Management