Good morning all, Merry Christmas eve!
Wishing all of you a very merry Christmas with your nearest and dearest in what has been a very difficult year. May 2021 bring you more happiness and health!
Luke, Ricky, Jarryd, Sam and the FIS Fuel Oil desk cannot thank you enough for all the support throughout the year and we look forward to working with you in the new year and seeing what that has to bring!
#EIA Report
#Crude: -0,562
#Cushing: -0,026
#Distillate: -2,325
#Gasoline: -1,125
#Production: 0
Brent crude futures rose 38 cents, or 0.7%, to $51.58 a barrel by 0530 GMT, while U.S. West Texas Intermediate (WTI) crude futures increased 31 cents, or 0.6%, to $48.43. Both contracts gained more than 2% on Wednesday.
Brent was buoyed by the unexpected draw in crude stocks and the positive news that a Brexit deal is on the edge of being agreed between the EU and the UK this morning, but another new strain of the virus has capped those gains to 2% yesterday. U.S. crude inventories fell by 562,000 barrels in the week to Dec. 18 to 499.5 million barrels, the Energy Information Administration said on Wednesday. (Reuters)
Singapore Marine Fuel 0.5%S was supported Dec. 24 on the eve of the Christmas long weekend by stronger demand and expectations of declining supply, market sources said. The January/February spread remained in backwardation, pegged at 25 cents/mt at 11 am Singapore time (0300 GMT) Dec. 24, unchanged from Dec. 23. The market structure flipped into backwardation on Dec. 22. Market sources attributed the strength both to bullish demand and declining supply. The downstream delivered bunker market has been seeing an increase in inquiries, a trader said. “Spot demand is not bad. Seeing some inquiries for delivery at the end of December,” a trader based in Singapore said. (S&P Global Platts)
INDEX: (MTD Estimates)
* Sing 380: 295.69
* Rott 3.5%: 276.07
* Sing 0.5%: 374.63
* Rott 0.5%: 360.03
*Rotterdam 3.5% INDIC*
Jan21 286.00 / 288.00
Feb21 285.50 / 287.50
Mar21 284.50 / 286.50
Apr21 282.50 / 284.50
May21 280.00 / 282.00
Jun21 277.50 / 279.50
Q1-21 285.50 / 287.50
Q2-21 280.00 / 282.00
Q3-21 271.50 / 273.50
Q4-21 262.75 / 265.75
CAL21 273.25 / 279.25
*Singapore 380 INDIC*
Jan21 302.50 / 304.50
Feb21 301.75 / 303.75
Mar21 301.00 / 303.00
Apr21 299.00 / 301.00
May21 297.00 / 299.00
Jun21 294.00 / 296.00
Q1-21 301.75 / 303.75
Q2-21 296.75 / 298.75
Q3-21 288.75 / 290.75
Q4-21 281.50 / 284.50
CAL21 292.00 / 298.00
*Rott VLSFO 0.5% INDIC*
Jan21 368.50 / 373.50
Feb21 369.00 / 374.00
Mar21 369.25 / 374.25
Apr21 369.50 / 374.50
May21 369.75 / 374.75
Jun21 370.00 / 375.00
Q1-21 369.00 / 374.00
Q2-21 369.75 / 374.75
Q3-21 369.75 / 375.75
Q4-21 368.50 / 376.50
CAL21 364.25 / 372.25
*Singapore VLSFO 0.5% INDIC*
Jan21 389.75 / 394.75
Feb21 389.25 / 394.25
Mar21 389.50 / 394.50
Apr21 389.50 / 394.50
May21 389.75 / 394.75
Jun21 390.00 / 395.00
Q1-21 389.50 / 394.50
Q2-21 389.75 / 394.75
Q3-21 390.00 / 396.00
Q4-21 389.75 / 397.75
CAL21 384.00 / 392.00
*Sing 10ppm GO INDIC*
Jan21 57.35 / 57.49
Feb21 57.37 / 57.57
Mar21 57.50 / 57.70
Apr21 57.63 / 57.83
May21 57.76 / 57.96
Jun21 57.84 / 58.04
Q1-21 57.35 / 57.65
Q2-21 57.70 / 58.00
Q3-21 58.10 / 58.40
Q4-21 58.26 / 58.56
CAL21 57.80 / 58.20
*ICE Gasoil 10ppm INDIC*
Jan21 428.34 / 430.34
Feb21 430.35 / 432.35
Mar21 431.48 / 433.48
Apr21 432.28 / 434.28
May21 433.13 / 435.13
Jun21 434.29 / 436.29
Q1-21 430.05 / 432.05
Q2-21 433.23 / 435.23
Q3-21 436.74 / 438.74
Q4-21 438.80 / 440.80
CAL21 434.71 / 436.71
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