At 10:25 am Singapore time (0225 GMT), the ICE December Brent futures contract was up 78 cents/b (0.95%) from the previous close at $83.17/b, while the NYMEX November light sweet crude contract was $1.18/b (1.49%) higher at $80.53/b.
Crude oil gained amid a broader rally in the energy sector as fears of strong demand and supply shortage continue to grip the market. Saudi Aramco warned that high natural gas prices are already boosting oil demand for power generation and heating. US non-farm payrolls rose 194,000 jobs in September, easing from a 366,000 increase in August, US Department of Labor data released Oct. 8 showed, and well below market expectations of a 500,000 increase. Oil futures paradoxically moved higher following the report, as the weak growth may add headwinds to a recent hawkish pivot in US Federal Reserve monetary policy, analysts said. (S&P Global Platts)
In India, some states are experiencing blackouts and further electricity cuts because of coal shortages, while in China the government has ordered miners to ramp up coal production as power prices surge. The energy crisis sweeping the world is raising the prospect of a difficult winter to come as heating demand rises. Fund managers increased their net long positions in U.S. crude futures and options in the week to Oct. 5, the Commodity Futures Trading Commission said on Friday. The speculator group increased combined futures and options position in New York and London by 8,902 contracts to 325,578 during the period, the commissions said.
OIL MARKET ROUND-UP:
* OIL ALLOCATIONS: Saudis Give Full Nov. Vols to 2 Buyers in Asia
* Biden’s Options to Tame Gas Prices Clash With His Climate Agenda
* California’s Worst Oil Leak in Years May Have Started Months Ago
* Fuel-Buying Frenzy Left U.K.’s Filling Stations 85% Empty
* ASIA-AMERICAS FUEL: October Bookings Rise; Sept. Volumes Drop
Rotterdam 3.5% INDIC
Nov21 466.50 / 468.50
Dec21 461.00 / 463.00
Jan22 456.50 / 458.50
Feb22 453.00 / 455.00
Mar22 449.25 / 451.25
Apr22 445.50 / 447.50
Q1-22 452.75 / 454.75
Q2-22 441.50 / 443.50
Q3-22 429.25 / 431.25
Q4-22 415.75 / 418.75
CAL22 433.00 / 439.00
Singapore 380 INDIC
Nov21 491.25 / 493.25
Dec21 484.00 / 486.00
Jan22 477.25 / 479.25
Feb22 472.75 / 474.75
Mar22 468.50 / 470.50
Apr22 464.75 / 466.75
Q1-22 473.00 / 475.00
Q2-22 461.00 / 463.00
Q3-22 449.75 / 451.75
Q4-22 438.50 / 441.50
CAL22 453.75 / 459.75
Rott VLSFO 0.5% INDIC
Nov21 565.25 / 570.25
Dec21 562.25 / 567.25
Jan22 559.25 / 564.25
Feb22 556.25 / 561.25
Mar22 553.25 / 558.25
Apr22 550.25 / 555.25
Q1-22 556.25 / 561.25
Q2-22 547.25 / 552.25
Q3-22 537.25 / 543.25
Q4-22 526.25 / 534.25
CAL22 540.75 / 548.75
Sing VLSFO 0.5% INDIC
Nov21 586.25 / 591.25
Dec21 583.75 / 588.75
Jan22 580.75 / 585.75
Feb22 577.75 / 582.75
Mar22 574.75 / 579.75
Apr22 571.75 / 576.75
Q1-22 577.75 / 582.75
Q2-22 568.75 / 573.75
Q3-22 559.25 / 565.25
Q4-22 549.25 / 557.25
CAL22 562.75 / 570.75
Sing 10ppm GO INDIC
Nov21 94.78 / 94.92
Dec21 93.95 / 94.15
Jan22 93.25 / 93.45
Feb22 92.60 / 92.80
Mar22 91.95 / 92.15
Apr22 91.30 / 91.50
Q1-22 92.55 / 92.85
Q2-22 90.61 / 90.91
Q3-22 88.73 / 89.03
Q4-22 87.26 / 87.56
CAL22 88.63 / 89.03
ICE Gasoil 10ppm INDIC
Nov21 715.47 / 719.47
Dec21 709.88 / 713.88
Jan22 704.84 / 708.84
Feb22 699.70 / 703.70
Mar22 694.13 / 698.13
Apr22 688.63 / 692.63
Q1-22 699.55 / 703.55
Q2-22 685.40 / 689.40
Q3-22 671.99 / 675.99
Q4-22 671.36 / 675.36
CAL22 677.76 / 681.76
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FIS Oil Desk
info@freightinvestor.com
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Email: LukeL@freightinvestor.com
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Email: jarryds@freightinvestor.com
Mobile: (+65) 87984987
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