Perhaps a touch of profit taking this morning as we are off at the open $67.70 down -0.5% or 0.33c. While The outbreak in India is holding back oil’s rally I don’t foresee it causing any major sell offs in the longer term. There is a bank holiday in the UK on Monday so perhaps we see a few positional changes month end today before the long weekend. In other news Vitol Group is said to be near a purchase of Hunt Oil Co.’s Permian Basin oil wells in what would mark the crude trader’s first major acquisition of U.S. production assets, according to people with knowledge of the matter. The deal may be more than $1 billion, one of the people said.
Oil Market Roundup:
* North Sea Crude Oil Flows to Collapse to Record in June
* Big Oil Revives Pre-Pandemic Levels of Cash Flow and Profit
* Adnoc Cuts July Term Oil Supply by 20% to Some Buyers in Asia
* Shale CEO Sees Producers Staying Disciplined at $70 Crude Oil
* Libya to Export 1.04M B/D of Crude, Condensate in May: Program
* Danish Oil Stockpiling Entity Offers to Supply and Store
Diesel
* U.S. Sour Crudes Fall on Soft Indian Demand and SPR Sell
Tender
* Amazon Expects the Pandemic-Fueled Shopping Frenzy to Continue
* Shell Taking a ‘Very Measured’ Approach to Permian: Sawan
* Venezuela Arrests 10 PDVSA Employees for Fuel Contraband
* 6pm: Baker Hughes weekly rig count report
* 6:30pm: ICE Futures Europe’s weekly commitment of traders
report
* 8:30pm: CFTC weekly commitment of traders data
* EIA releases Petroleum Supply Monthly
Rotterdam 3.5% INDIC
May21 374.50 / 376.50
Jun21 373.00 / 375.00
Jul21 370.00 / 372.00
Aug21 365.75 / 367.75
Sep21 360.50 / 362.50
Oct21 355.25 / 357.25
Q3-21 365.50 / 367.50
Q4-21 351.75 / 353.75
Q1-22 344.00 / 346.00
Q2-22 337.50 / 340.50
CAL22 333.25 / 336.25
Singapore 380 INDIC
May21 385.25 / 387.25
Jun21 384.75 / 386.75
Jul21 383.25 / 385.25
Aug21 380.25 / 382.25
Sep21 376.50 / 378.50
Oct21 373.00 / 375.00
Q3-21 380.00 / 382.00
Q4-21 370.00 / 372.00
Q1-22 363.00 / 365.00
Q2-22 356.50 / 359.50
CAL22 352.75 / 355.75
Rott VLSFO 0.5% INDIC
May21 469.75 / 474.75
Jun21 470.50 / 475.50
Jul21 470.75 / 475.75
Aug21 470.50 / 475.50
Sep21 469.75 / 474.75
Oct21 468.75 / 473.75
Q3-21 470.25 / 475.25
Q4-21 467.50 / 472.50
Q1-22 463.25 / 469.25
Q2-22 459.50 / 465.50
CAL22 457.25 / 463.25
Singapore VLSFO 0.5% INDIC
May21 491.25 / 496.25
Jun21 491.00 / 496.00
Jul21 490.75 / 495.75
Aug21 490.50 / 495.50
Sep21 490.25 / 495.25
Oct21 489.75 / 494.75
Q3-21 490.50 / 495.50
Q4-21 489.00 / 494.00
Q1-22 485.50 / 491.50
Q2-22 481.25 / 487.25
CAL22 478.50 / 484.50
Sing 10ppm GO INDIC
May21 72.21 / 72.35
Jun21 72.31 / 72.51
Jul21 72.38 / 72.58
Aug21 72.42 / 72.62
Sep21 72.42 / 72.62
Oct21 72.35 / 72.55
Q3-21 72.40 / 72.60
Q4-21 72.17 / 72.37
Q1-22 71.80 / 72.00
Q2-22 71.46 / 71.66
CAL22 71.22 / 71.62
Ice Gasoil Swap
May21 543.39 / 545.39
Jun21 544.67 / 546.67
Jul21 545.64 / 547.64
Aug21 546.64 / 548.64
Sep21 547.72 / 549.72
Oct21 547.36 / 549.36
Q3-21 546.65 / 548.65
Q4-21 546.12 / 548.12
Q1-22 543.69 / 545.69
Q2-22 540.26 / 542.26
CAL22 539.88 / 542.88
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