BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News





Oil and fuel oil hedging market update

14 Nov 2017 09:18 GMT

By the Oil Desk at Freight Investor Services.



Commentary

Brent closed last night down $0.36 to $63.16 and WTI closed at $56.76, up $0.02. It's getting to that great time of year over in Dubai. This week they have the air show, the motor show, the Race to Dubai golf and next week we have the Grand Prix in Abu Dhabi. But all that is on everyone's mind is not watching Lewis Hamilton parade around Yas Marina. No, no, no. Everyone is waiting for the OPEC meeting in Vienna at the end of November. To be honest, I don't know why they don't just hold the OPEC meeting in the Viceroy Yas Island next Sunday, because I'm pretty sure every OPEC minister would be there anyway. That would be great, wouldn't it? Instead of those pit workers holding up how many laps have gone they could hold up signs that say "Cuts are extended", or whatever they decide. Bring OPEC to the masses! It's inevitable that those who drove the market up regardless of the fundamentals will be the ones who take profits and sell it off at some point, but will they really do it before the OPEC meeting? If they extend the cut and we fly up again, they are going to have a lot of egg on their face. Or will they deliberately sell it off beforehand, to then buy it up again on the bullish headlines coming from panicking OPEC ministers at the meeting? I'm inclined to go with the latter scenario - the bullish play of OPEC has already been evidenced with yesterday OPEC once again increasing its demand forecast. Wasn't it only last week that they conceded that demand actually won't be that high? API data out later tonight so watch crude with caution.

Fuel Oil Market (November 13)

The front crack opened at -7.80, strengthening to -7.75, before weakening to -8.00. The Cal 18 was valued at -7.75.

Cash premiums of Asia's 380 cSt high-sulphur fuel oil edged higher on Monday, snapping four straight sessions of declines as deal values in the Singapore window improved, sources said

Meanwhile, in the paper markets, activity was muted at the start of the week, leaving the prompt-month time spreads, arbitrage spreads and fuel oil cracks largely unchanged. Singapore's marine fuel sales fell to a fourmonth low of 4.005 mil tns in October, down 7.7% from September, but were largely unchanged compared with the same period a year ago.

The October quantities are the third-lowest volumes for 2017 ahead of the June and February volumes. In October 2016, a total of 4.009 million tonnes of bunker fuels were sold in Singapore.

Economic Data/Events: (UK times)

* 9am: IEA's monthly oil market report

* 9:30am: Oct. U.K. Consumer Price Index m/m est. 0.2% (prior 0.3%) and y/y est. 3.1% (prior 3%)

* 11am: U.S. NFIB Small Business Optimism. Oct.

* 1:30pm: U.S. PPI Final Demand, Oct.

* Today:

** API issues weekly U.S. oil inventory report

** Bloomberg-compiled refinery snapshot, looking at key outages at refineries in the U.S. and Canada, and providing offline capacity projections for crude units and FCCs

Singapore 380 cSt

Dec17 - 366.50 / 368.50

Jan18 - 365.25 / 367.25

Feb18 - 363.75 / 365.75

Mar18 - 362.25 / 364.25

Apr18 - 360.75 / 362.75

May18 - 359.25 / 361.25

Q1-18 - 363.75 / 365.75

Q2-18 - 359.25 / 361.25

Q3-18 - 353.75 / 356.25

Q4-18 -348.50 / 351.00

CAL18 - 359.00 / 362.00

CAL19 - 321.50 / 326.50

Singapore 180 cSt

Dec17 - 370.75 / 372.75

Jan18 - 370.25 / 372.25

Feb18 - 369.25 / 371.25

Mar18 - 368.25 / 370.25

Apr18 - 367.00 / 369.00

May18 - 366.00 / 368.00

Q1-18 - 369.25 / 371.25

Q2-18 - 365.50 / 367.50

Q3-18 - 360.50 / 363.00

Q4-18 - 355.25 / 357.75

CAL18 - 365.25 / 368.25

CAL19 - 330.25 / 335.25

Rotterdam 380 cSt

Dec17 347.75 / 349.75

Jan18 346.75 / 348.75

Feb18 346.00 / 348.00

Mar18 345.25 / 347.25

Apr18 344.25 / 346.25

May18 343.25 / 345.25

Q1-18 346.00 / 348.00

Q2-18 343.25 / 345.25

Q3-18 337.75 / 340.25

Q4-18 329.25 / 331.75

CAL18 341.25 / 344.25

CAL19 299.25 / 304.25



Founded in 2002, Freight Investor Services is a specialist in dry bulk and commodity derivatives, including cargo freight, iron ore, fertilizer and bunker fuel. The company has offices in London, Dubai, Singapore and Shanghai.

For further details about fuel oil swaps or to discuss trading opportunities, please contact Andrew Cullen, Client Relations & Development Manager, on +44 207 090 1126, or email AndrewC@freightinvestor.com.


Image: Freight Investor Services (FIS) logo. Image credit: Freight Investor Services (FIS)




Related Links:

Oil and fuel oil hedging market update

Latest News:

Project targets emissionless 'green corridor' with first electric inland boxship
UK's first LNG-fuelled passenger ferry launched in Glasgow
Wartsila to supply scrubber and engines for new cruise ship
Oil stocks, rig count and OPEC taking centre stage
Oil and fuel oil hedging market update
Petronas signs accord to provide STS LNG transfers
ECSA welcomes agreement on CO2 emissions trading system
Tallink achieves Q3 growth despite rise in bunker costs
Oil and fuel oil hedging market update
Jan Brent rose $0.47 to close at $62.57
Debmarine Namibia inks MoU to build bunker-saving mining vessel
Understanding 'about' in bunker consumption clauses




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events