---

Evening Price Update

Cargoes assessment ended with positive gains for all products, along with Papers surge. Fueloil cargo closed firmer by almost USD3.00-4.00/MT, with six deals traded on screen. Gasoil cargo concluded bullish, in which it soared by about USD2.50/BBL. Two deals were reported on screen. Without doubts, all delivered prices were quoted higher, especially the Distillates. But, WTI Access trading is showing flat with little change ealier. Meantime, our bunker indication is revised upward once again only for the MDO/MGO, amid thin demand so far.

Morning Commentary

Light Sweet Crude Oil futures closed with another positive gain last Friday by USD1.19/BBL. As expected, Papers market was pushed higher today. Fueloil paper opened firm by about USD6.00/MT while Gasoil paper was pegged bullish by almost USD2.35/BBL.

With this, Bunker market will possibly be selling more expensive as well. However, we shall see how Cargoes trading will react later in the day. Meantime, our bunker indication is revised upward for all grades.