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 closed higher after positive US economic data and a rebound in equities. The US weekly jobless claims fell more than expected at 334k against 350k while the US May retail sales figures rose +0.6% lifting the market sentiment. The July WTI futures closed at $96.69/bbl, up +$0.81 and July Brent expired at $104.25/bbl, up +$0.71. The next most active contract; August Brent futures closed at $104.95/bbl. Today, is a busy day in term of US economic data releases. The US May Core Producer Price Index (PPI), the May Industrial production and June Consumer Sentiment which will provide price guidance. Note that Iran, OPEC sixth largest producer and currently under Western Oil export sanctions are electing their new President today. This morning, crude prices are trading flat.       Fueloil Specifics     The Singapore fuel oil markets rose yesterday up around +$5.0 during the Platts window yesterday. Market is continued to be supported on the window while fundamentals remain weak weighed down by sluggish bunker demand. The delivered bunker premiums dipped to around +$3.5 above cargoes prices yesterday as demand was muted due to higher outright prices.       Settlement & Indications (mid values)     Product Yesterday's Values Forward Indications Product Yesterday's Values Forward Indications               Product Change Last Dir. Jul Aug Sep Q313 Q413 2014 NYMEX WTI Swap (1st month) 0,50 96,69 ↑ 97,08 97,04 96,70 96,94 95,43 92,12 ICE Brent Swap (1st month) 0,53 104,25 ↑ 104,83 104,46 104,09 104,46 103,34 100,75 ICE Gasoil Swap (1st month) 0,00 879,00 ↑ 885,67 886,25 888,50 887,47 890,69 877,71 3.5% Barges FOB Rtdm (1,00) 587,00 ↑ 584,25 581,75 579,50 582,25 577,00 569,75 3.5% Cargoes FOB Med (0,75) 587,50 ↑ 580,50 578,00 575,50 578,50 570,75 567,00 1.0% Cargoes FOB NWE (2,75) 610,50 ↑ 613,25 612,75 611,25 612,25 607,25 598,75 3% no. 6 USGC WB 1,05 91,65 ↓ 91,95 92,20 92,20 92,20 91,55 90,40 380 CST Cargoes FOB S'pore 5,00 602,75 ↑ 606,25 603,25 600,50 602,75 599,25 593,00 0.1 % GO Barges FOB Rtdm 6,00 881,00 ↑ 886,25 887,25 888,25 887,25 888,25 876,25 Physical Rotterdam 380 CST 0,00 589,75 ↑ 589,50 587,50 584,75 587,00 581,25 574,50 Physical Singapore 380 CST 0,50 606,25 ↑ 612,00 609,75 607,25 609,50 605,75 599,25       Economy fundamentals this week     Fundamental Indicators Fundamental Indicators               Statistic Importance Date Time Period Consensus Last Actual Wholesale Inventories Medium 11-Jun 10:00 AM Apr 0.2% 0.4% 0.2% Treasury Budget Medium 12-Jun 2:00 PM May -$139.0B -$124.6B -$138.7B Initial Claims Medium 13-Jun 8:30 AM 8-June 350K 346K 334 Continuing Claims Medium 13-Jun 8:30 AM 1-June 2975K 2952K 2973 Retail Sales High 13-Jun 8:30 AM May 0.1% 0.1% 0.6% Business Inventories Medium 13-Jun 10:00 AM Apr 0.2% 0.0% 0.3% Core PPI Medium 14-Jun 8:30 AM May 0.2% 0.1% - Industrial Production Medium 14-Jun 9:15 AM May 0.1% -0.5% - Capacity Utilization Medium 14-Jun 9:15 AM May 77.9% 77.8% - Mich Sentiment High 14-Jun 9:55 AM Jun 81.5 84.5 -

Source: OW Risk Management