---

Fuel oil trend

Rotterdam: $ 2 higher.
Singapore: $ 2 lower.
US Gulf: $ 1 higher.

Mixed data from the U.S. – new clashes in Ukraine (Brent: $107.7)

Yesterday's weekly U.S. jobless claims rose slightly to 344K from 330K previous.. On the other hand, the ISM manufacturing PMI came out better than expected (54.9 versus 53.7 in March, the best reading since December. Volatility will be high around today’s non-farm payroll data and unemployment rate (14.30 CET) - market expects improving numbers in both since several economic numbers have showed signs of improving U.S. economy lately.

This morning, the Japanese household spending showed a larger-than-expected increase of 7.2% versus -2.5% previous.

Libya, holding Africa's largest crude reserves, could be about to start exporting oil from the newly reopened Zueitina port today; the terminal can handle up to 70,000 bpd.

In Ukraine, there appear to be clashes between the Ukrainian military and pro-Russian rebels. The rebels have declared one of the large cities, Donetsk, "People's Republic of Donetsk" and called a referendum for 11 May, 2 weeks ahead of Ukraine's presidential election on 25 May.