Sign up
Log in Sign up
Tue 29 May 2018, 10:24 GMT

Oil and fuel oil hedging market update


By the Oil Desk at Freight Investor Services.

Commentary

Brent crude futures were up 21 cents, or 0.28 percent, to $75.51 a barrel at 0635 GMT, after settling at their lowest since May 8 at $75.30. U.S. WTI crude was down $1.11, or 1.64 percent, at $66.77 a barrel, sitting around its lowest since April 17. So it seems that Saudi Arabia and Russia are looking to take advantage of higher prices to loosen their belts and start producing more. It's very convenient that they can dress this up as replacing lost production from Venezuela and Iran. However, this is like them getting a pig and putting lipstick on it and a silk dress - no matter how much you dress it up, it's still a pig. More excitement in a morgue on a Sunday night than the market this morning with a Singapore holiday today, and the hangover from a long weekend in the U.S. and parts of Europe markets are taking a while to tighten up. The attention is now shifting from the perceived supply cuts to the numbers behind supply increases. The U.S. as we have discussed multiple times is considerably up, increasing more than 27% in the last two years (up to 10.73 mil bpd), and Russia is now talking about production levels at their 2016 levels. Wonder what the plan of the funds is now. Good day.

Singapore 380 cSt

Jun18 - 427.75 / 429.75

Jul18 - 424.75 / 426.75

Aug18 - 421.25 / 423.25

Sep18 - 417.50 / 419.50

Oct18 - 414.25 / 416.25

Nov18 - 410.75 / 412.75

Q3-18 - 421.00 / 423.00

Q4-18 - 411.00 / 413.00

Q1-19 - 398.75 / 401.25

Q2-19 - 384.75 / 387.25

CAL19 - 359.00 / 362.00

CAL20 - 286.50 / 291.50

Singapore 180 cSt

Jun18 - 437.75 / 439.75

Jul18 - 435.00 / 437.00

Aug18 - 431.75 / 433.75

Sep18 - 428.25 / 430.25

Oct18 - 425.25 / 427.25

Nov18 - 422.00 / 424.00

Q3-18 - 431.75 / 433.75

Q4-18 - 422.00 / 424.00

Q1-19 - 410.25 / 412.75

Q2-19 - 396.75 / 399.25

CAL19 - 373.50 / 376.50

CAL20 - 300.50 / 305.50

Rotterdam Barges

Jun18 - 412.00 / 414.00

Jul18 - 409.25 / 411.25

Aug18 - 405.75 / 407.75

Sep18 - 401.75 / 403.75

Oct18 - 397.25 / 399.25

Nov18 - 392.50 / 394.50

Q3-18 - 405.50 / 407.50

Q4-18 - 392.25 / 394.25

Q1-19 - 379.50 / 382.00

Q2-19 - 365.00 / 367.50

CAL19 - 337.75 / 340.75

CAL20 - 272.25 / 277.25

BP  
Seto Azure ship-to-ship (STS) LNG bunkering operation. Osaka Gas launches ship-to-ship LNG bunkering in Japan  

Japanese energy company now offers all three primary LNG fuel supply methods for vessels.
Gasum logo. Gasum converts to a public limited company to diversify financing options  

Finnish energy company changes legal structure from private to public limited liability company.
Legend of the Seas vessel. Meyer Turku secures Icon 6 and 7 cruise ship orders from Royal Caribbean  

Finnish shipyard to deliver two additional Icon Class vessels under framework agreement extending to 2036.
Ferry Propulsion Summit 2026. BC Ferries orders Everllence engines for four newbuild ferries  

Canadian operator selects 32/44CR engines for vessels designed to support future electric operations.
Steve Bee speaking at Marine Insurance Greece 2026 graphic. VPS executive to join panel on bunker fuel testing adequacy at Athens marine insurance event  

Steve Bee will discuss bunker testing standards with insurance and surveying experts in May.
Everllence 18V51/60 engine. Everllence completes first factory test of 18V51/60 engine running on B100 biofuel  

French facility tests 18,900 kW engine converted to run entirely on biofuel in Corsica.
Maritime industry representatives joining the MARINER project. Genevos secures €2.2m EU funding for 1 MW maritime hydrogen fuel cell development  

French company joins €7m MARINER project to develop and validate modular fuel cell systems.
Container ship at harbour. Skuld warns of unusual chemical compounds in Southeast Asian marine fuels  

Marine insurer reports fuels meeting ISO 8217 standards but containing high levels of hydrocarbon compounds.
Arsenio Dominguez, IMO. IMO chief urges progress on net-zero framework amid Hormuz crisis  

Arsenio Dominguez calls for constructive dialogue as MEPC 84 tackles greenhouse gas measures and ballast water regulations.
Monjasa Shaker vessel. Monjasa reflags UAE-based tankers to Emirates registry  

Marine fuels supplier transitions first of three vessels from Liberian to UAE flag.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG/LBM Biofuel Biogas Biomethanol Dual-fuel E-fuel E-methane/e-NG Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind power



 Recommended