At 11:13 am Singapore time (0311 GMT), the ICE August Brent futures contract was up 43 cents/b (0.58%) from the previous close at $75.19/b while the NYMEX August light sweet crude contract was up 49 cents/b (0.67%) at $72.98/b.

 

API

Crude -8.153M

Cushing -1.318M

Gasoline +2.418M

Distillate +0.428M

 

Oil prices steadied on Tuesday as broad hopes for a demand recovery persisted, fuelled by comments from OPEC’s secretary general, slightly overshadowing travel curbs due to new outbreaks of the highly contagious Delta variant of the coronavirus. (Reuters)

 

The data released by the American Petroleum Institute led to some bullishness in the market, as it showed a draw of 8.15 million barrels in the US crude inventories for the week ended June 25. The data was less positive with regards to downstream products inventories, showing gasoline and distillate inventories rising by 2.42 million barrels and 428,000 barrels, respectively. (S&P Global Platts)

 

Tomorrow marks the next OPEC+ meeting in which it is widely expected to produce the latest production quotas for the month of August. Varying reports are stating that the increase will be around the 500k barrel per day mark increase, with anything less being supportive of the market. If the futures rise alongside aggregate open interest and volume after the meeting, then it will be all systems go for a bull move. For more information on the technical please follow the link FIS Technical – Brent Aug 21 29/06/21 https://fisapp.com/wp-content/uploads/2021/06/FIS-Technical-Oil-Report-29-06-21.pdf

 

 

 

OIL MARKET ROUND-UP:
* Venezuela’s PDVSA Output Reaches ~660K B/d in June
* India Sees Return to Normal Oil Demand by Year-End
* Japan’s Gasoline Demand Seen Dropping 5% Y/y in June: ENEOS
* API Reports U.S. Crude Stockpiles Fell 8.15M Bbl Last Week
* U.S. Gasoline Demand Reaches Strongest This Year
* Europe’s Imports of Clean Fuels from East Asia Set to Plummet
* Benchmark Oil Tanker Rates Dip; U.S. Gulf-Europe Route Gains

 

 

Singapore 380 INDIC                                     

Jul21      412.75   /             414.75

Aug21   412.25   /              414.25

Sep21    410.50   /             412.50

Oct21    408.50   /             410.50

Nov21   406.50   /             408.50

Dec21    404.50   /             406.50

Q3-21    411.75   /             413.75

Q4-21    406.50   /             408.50

Q1-22    400.00   /             402.00

Q2-22    392.75   /             395.75

CAL22    388.25   /             391.25

 

Rotterdam 3.5% INDIC                                 

Jul21      402.00   /             404.00

Aug21   400.50   /             402.50

Sep21    397.00   /             399.00

Oct21    393.50   /             395.50

Nov21   390.50   /             392.50

Dec21    387.50   /             389.50

Q3-21    399.75   /             401.75

Q4-21    390.50   /             392.50

Q1-22    383.00   /             385.00

Q2-22    375.25   /             378.25

CAL22    369.75   /             372.75

 

Singapore VLSFO 0.5% INDIC                                     

Jul21      530.00   /              535.00

Aug21   529.75   /              534.75

Sep21    528.50   /              533.50

Oct21    527.00   /              532.00

Nov21   525.25   /              530.25

Dec21    523.50   /              528.50

Q3-21    529.50   /              534.50

Q4-21    525.25   /              530.25

Q1-22    519.25   /              525.25

Q2-22    513.00   /              519.00

CAL22    509.25   /              515.25

 

Rott VLSFO 0.5% INDIC                                 

Jul21      511.50   /              516.50

Aug21   510.00   /              515.00

Sep21    508.50   /              513.50

Oct21    507.00   /              512.00

Nov21   505.25   /              510.25

Dec21    503.50   /              508.50

Q3-21    510.00   /              515.00

Q4-21    505.25   /              510.25

Q1-22    498.75   /              504.75

Q2-22    491.75   /              497.75

CAL22    487.75   /              493.75

 

Sing 10ppm GO INDIC                                   

Jul21      79.65     /              79.79

Aug21   79.69     /              79.89

Sep21    79.66     /              79.86

Oct21    79.48     /              79.68

Nov21   79.16     /              79.36

Dec21    78.83     /              79.03

Q3-21    79.65     /              79.85

Q4-21    79.15     /              79.35

Q1-22    78.44     /              78.64

Q2-22    77.73     /              77.93

CAL22    77.36     /              77.76

 

Ice Gasoil Swap                                               

Jul21      599.15   /              601.15

Aug21   600.48   /              602.48

Sep21    601.03   /              603.03

Oct21    599.85   /              601.85

Nov21   597.33   /              599.33

Dec21    595.42   /              597.42

Q3-21    600.20   /              602.20

Q4-21    597.53   /              599.53

Q1-22    593.23   /              595.23

Q2-22    587.40   /              589.40

CAL22    586.84   /              589.84

 

 

 

 

For more information please contact

FIS Oil Desk

info@freightinvestor.com
UK number: +44 (0) 207 090 1134
Shanghai number: +86 (0)21 63012568
Singapore: +65 87984987

Luke Longhurst

Email: LukeL@freightinvestor.com

Mobile: (+44) 7966 968761

 

Ricky Forman

Email: RickyF@freightinvestor.com

Mobile: (+44) 7868 708719

 

Sam Twyford

Email: SamT@freightinvestor.com

Mobile: (+44) 7729 118643

 

Jessie Deng

Email: jessied@freightinvestor.com

Mobile: (+86)1352 4516743

 

Jarryd Smith
Email: jarryds@freightinvestor.com
Mobile: (+65) 87984987

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