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Wed 31 Jan 2018, 09:03 GMT

Oil and fuel oil hedging market update


By the Oil Desk at Freight Investor Services.

Fuel Oil Market (January 30)

The front crack opened at -11.30, strengthening to -11.05, before weakening to -11.10. The Cal 19 was valued at -17.00.

Asia's fuel oil markets were relatively muted for a second day this week with buyers remaining on the sidelines as they took stock of near-term supplies and anticipated further weakness in crude oil prices

Some industry sources pointed to steady inflows of prompt arbitrage supplies into Singapore and Asia, keeping supply levels ample.

Oil prices fell on Tuesday for a second day as rising U.S. output and a strengthening dollar sapped demand for crude, pushing Brent below $69 a barrel for the first time in six days.

Economic Data and Events

* 12pm: MBA Mortgage Applications, Jan. 26

* 1:15pm: U.S. ADP Employment Change, Jan.

* 2:45pm: Chicago Purchasing Manager, Jan.

* 3pm: U.S. Pending Home Sales

* 3:30pm: EIA weekly oil inventory report

* 7pm: U.S. Federal Reserve Open Market Committee interest rate decision

* Today, no exact timing:

** Genscape weekly ARA crude stockpiles report

** Petroleum Economist Energy Strategy Forum in Kuwait City, with speakers including Kuwait Oil Minister, among others

** Energy Mexico conference, Mexico City, 2nd day of 3

** Primorsk diesel loading program for February

** EIA releases Petroleum Supply Monthly

*** Monthly Crude Oil and Natural Gas Production report at 12pm

*** All other reports 2pm

Singapore 380 cSt

Feb18 - 377.25 / 379.25

Mar18 - 377.00 / 379.00

Apr18 - 376.75 / 378.75

May18 - 376.25 / 378.25

Jun18 - 375.50 / 377.50

Jul18 - 374.00 / 376.00

Q2-18 - 376.25 / 378.25

Q3-18 - 372.50 / 374.50

Q4-18 - 366.50 / 369.00

Q1-19 - 356.75 / 359.25

CAL19 - 309.00 / 312.00

CAL20 - 240.50 / 245.50

Singapore 180 cSt

Feb18 - 383.25 / 385.25

Mar18 - 382.50 / 384.50

Apr18 - 382.75 / 384.75

May18 - 382.50 / 384.50

Jun18 - 381.75 / 383.75

Jul18 - 380.25 / 382.25

Q2-18 - 382.50 / 384.50

Q3-18 - 378.75 / 380.75

Q4-18 - 373.00 / 375.50

Q1-19 - 363.75 / 366.25

CAL19 - 317.00 / 320.00

CAL20 - 251.00 / 256.00

Rotterdam Barges

Feb18 362.25 / 364.25

Mar18 363.75 / 365.75

Apr18 363.50 / 365.50

May18 362.50 / 364.50

Jun18 361.50 / 363.50

Jul18 359.75 / 361.75

Q2-18 362.50 / 364.50

Q3-18 357.50 / 359.50

Q4-18 347.25 / 349.75

Q1-19 337.00 / 339.50

CAL19 288.00 / 291.00

CAL20 225.00 / 230.00

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