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|Singapore Market Commentary (with evening update)|
Liow Liak Hong, Wired Bunkering Pte. Ltd.
20 Jul 2011 06:33 GMT
| Evening Price Update|
Cargoes trading closed firm this afternoon. Fueloil cargo gained by about USD4-5/MT with two trades done. Gasoil cargo surged by about USD1.30/bbl with five deals done.
Delivered prices were offered much more than last close and backed by uprising Crude futures. Meantime, our bunker indication is revised upwards for all grades, amid average demand.
Crude futures closed firm last night by USD1.57/bbl and USD1.01/bbl for Light Sweet Crude Oil and ICE Brent respectively. Similarly, Papers value opened firmer too. Fueloil paper opened with a positive gain of about USD2.50/MT and Gasoil papers took a hike by USD0.75/BBL today.
Meantime, our bunker indication remains unchanged for all grades till we see how the Physical market will perform this afternoon.