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     Volatility is the word on Crude where prices surged more than $2.9 back yesterday. Oil prices cheered the loose monetary policies favored by the Central Banks with the ECB announcement yesterday of a 25 bps rate cut. Prices were also aided by an unexpected drop in US weekly jobless claims to 324k. Today the market will focus on the US April Nonfarm Payroll and Unemployment rate as well as the US April manufacturing data and Factory Orders figures for March. The June WTI contract settled at $93.99/bbl, +$2.96 and  Brent futures  rebounded +$2.90 to $102.85/bbl. This morning, crude is trading slightly down (-0,20%).       Fueloil Specifics     The NWE bunker fuel oil prices rebounded yesterday with delivered 380cst product in Rotterdam gaining up to $10/mt and in Antwerp some 3usd less. Demand in Rotterdam was sluggish while Antwerp saw some increasing volumes. Hamburg reported quiet day and still tight avails for HSFO that are expected to improve in the coming days. The Singapore fuel oil markets fell more than -$11.0 during the Platts window yesterday tracking the massive crude drop previously. The latest Singapore heavy residual inventory saw a build of +2.0 mbbl to 18.49 mbbl; a seven week high. The delivered bunker premiums were $9.5-8.0 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. Jun Jul Aug Q313 Q413 2014 NYMEX WTI Swap (1st month) 2,96 93,99 ↓ 93,79 93,68 93,45 93,43 92,21 89,74 ICE Brent Swap (1st month) 2,90 102,85 ↓ 101,70 101,33 101,01 101,02 100,12 97,89 ICE Gasoil Swap (1st month) 12,00 834,75 ↑ 849,50 854,08 857,25 857,06 862,47 856,37 3.5% Barges FOB Rtdm 10,25 578,25 ↑ 578,25 576,25 574,00 574,50 568,50 548,50 3.5% Cargoes FOB Med 11,00 570,75 ↑ 573,50 571,75 569,50 571,00 563,00 544,75 1.0% Cargoes FOB NWE 13,00 585,00 ↑ 596,50 600,50 600,00 600,25 595,75 575,00 3% no. 6 USGC WB 2,64 92,62 ↓ 91,20 90,95 90,45 90,70 89,70 88,70 380 CST Cargoes FOB S'pore (12,75) 599,50 ↑ 601,75 599,50 597,75 598,25 593,25 574,00 0.1 % GO Barges FOB Rtdm 13,50 835,25 ↑ 850,25 855,25 858,25 858,25 863,25 857,25 Physical Rotterdam 380 CST 10,00 582,75 ↑ 585,50 583,50 581,25 581,75 575,75 555,75 Physical Singapore 380 CST (10,50) 608,25 ↑ 609,00 606,25 604,50 604,50 599,50 581,25       Economy fundamentals this week     Fundamental Indicators Statistic Importance Date Time Period Consensus Last Actual Personal Income Medium 29-apr 8:30 AM Mar 0.3% 1.1% 0.2% PCE Prices - Core High 29-apr 8:30 AM Mar 0.1% 0.1% 0.0% Chicago PMI Medium 30-apr 9:45 AM Apr 52.0 52.4 49.0 Consumer Confidence Medium 30-apr 10:00 AM Apr 61.0 59.7 98.1 ADP Employment Change Medium 01-maj 8:15 AM Apr 150K 158K 119K ISM Index Medium 01-maj 10:00 AM Apr 49.5 51.3 50.7 FOMC Rate Decision Medium 01-maj 2:15 PM May 0.25% 0.25% 0.25% Initial Claims Medium 02-maj 8:30 AM 27-apr 346K 339K 324K Trade Balance High 02-maj 8:30 AM Mar -$43.5B -$43.0B -$38.8B Nonfarm Payrolls High 03-maj 8:30 AM Apr 150K 88K - Unemployment Rate High 03-maj 8:30 AM Apr 7.6% 7.6% - Factory Orders Medium 03-maj 10:00 AM Mar -2.5% 3.0% - ISM Services High 03-maj 10:00 AM Apr 54.0 54.4 -

Source: OW Risk Management