At 10:30 am Singapore time (0230 GMT), the ICE November Brent futures contract was up 50 cents/b (0.67%) from the previous close at $74.86/b, while the NYMEX November light sweet crude contract was 59 cents/b (0.84%) higher at $71.08/b.
API
Crude -6.108M
Cushing -1.748M
Gasoline -0.432M
Distillate -2.720M
Highlighting tight supply as demand improves, US oil producers were still working to bring back production stalled by Hurricane Ida three weeks ago. The US Bureau of Safety and Environmental Enforcement reported Sept. 21 that around 320,909 b/d or 16.64% of the Gulf’s oil production remains offline, while about 566.67 MMcf/d or 25.42% of gas production remains shut.
As the cat-and-mouse game continues over Russian gas to Europe, Russian Gazprom has refused to allow more gas into Europe via Ukraine for October, sending prices soaring another 10 percent Monday. Russia’s move to keep flows to Europe at a minimum means the continent cannot store up ahead of the winter months. According to Bloomberg, European gas storage is only at 72 percent capacity–a point they have been reduced to at this time of year in over a decade. (Oilprice.com)
OIL MARKET ROUND-UP:
* OPEC+ Can Proceed With Reviving Supply, Key Members Say
* API Reports U.S. Crude Stockpiles Fell 6.11M Bbl Last Week
* China Ships Rare Petrochemical Exports as U.S. Output Battered
* Mexico Cancels Trafigura’s Fuel Import Permits in Crackdown
* Iran Says Nuclear Talks Will Resume Within ‘Next Few Weeks’
* U.S. Gulf Had 320,909 B/D Oil Output Shut on Tuesday: Bsee
* California Gasoline Prices Rise After Los Angeles Earthquake
* European Gasoline Tankers Diverted to Houston Amid Fuel Shortage
*Rotterdam 3.5% INDIC*
Oct21 410.25 / 412.25
Nov21 404.50 / 406.50
Dec21 399.50 / 401.50
Jan22 396.00 / 398.00
Feb22 393.00 / 395.00
Mar22 390.00 / 392.00
Q4-21 404.75 / 406.75
Q1-22 393.00 / 395.00
Q2-22 384.00 / 386.00
Q3-22 374.50 / 377.50
CAL22 372.75 / 378.75
*Singapore 380 INDIC*
Oct21 435.75 / 437.75
Nov21 425.00 / 427.00
Dec21 418.00 / 420.00
Jan22 413.00 / 415.00
Feb22 410.00 / 412.00
Mar22 407.00 / 409.00
Q4-21 426.25 / 428.25
Q1-22 410.00 / 412.00
Q2-22 401.00 / 403.00
Q3-22 392.00 / 395.00
CAL22 391.25 / 397.25
*Rott VLSFO 0.5% INDIC*
Oct21 519.25 / 524.25
Nov21 516.25 / 521.25
Dec21 513.00 / 518.00
Jan22 509.75 / 514.75
Feb22 506.75 / 511.75
Mar22 503.75 / 508.75
Q4-21 516.25 / 521.25
Q1-22 506.75 / 511.75
Q2-22 497.25 / 503.25
Q3-22 488.00 / 496.00
CAL22 492.50 / 500.50
*Sing VLSFO 0.5% INDIC*
Oct21 543.75 / 548.75
Nov21 539.00 / 544.00
Dec21 534.50 / 539.50
Jan22 530.75 / 535.75
Feb22 527.25 / 532.25
Mar22 524.00 / 529.00
Q4-21 539.00 / 544.00
Q1-22 527.25 / 532.25
Q2-22 517.50 / 523.50
Q3-22 508.75 / 516.75
CAL22 513.00 / 521.00
*Sing 10ppm GO INDIC*
Oct21 82.96 / 83.10
Nov21 82.38 / 82.58
Dec21 81.81 / 82.01
Jan22 81.37 / 81.57
Feb22 81.01 / 81.21
Mar22 80.67 / 80.87
Q4-21 82.35 / 82.65
Q1-22 80.97 / 81.27
Q2-22 80.13 / 80.43
Q3-22 79.36 / 79.66
CAL22 79.42 / 79.82
*ICE Gasoil 10ppm INDIC*
Oct21 628.85 / 632.85
Nov21 624.83 / 628.83
Dec21 620.74 / 624.74
Jan22 617.33 / 621.33
Feb22 613.93 / 617.93
Mar22 610.43 / 614.43
Q4-21 624.80 / 628.80
Q1-22 613.89 / 617.89
Q2-22 605.53 / 609.53
Q3-22 598.33 / 602.33
CAL22 601.76 / 605.76
For more information please contact
FIS Oil Desk
info@freightinvestor.com
UK number: +44 (0) 207 090 1134
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Luke Longhurst
Email: LukeL@freightinvestor.com
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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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