At 10:49 am Singapore time (0249 GMT), the ICE November Brent futures contract was down 99 cents (1.36%) from the previous close at $71.62/b, while the NYMEX October light sweet crude contract was down 91 cents (1.31%) at $68.38/b.
Both markers fell after US Department of Labor data released late Sept. 3 showed nonfarm payrolls rose by 235,000 jobs in August, down sharply from the 1.05 million increase reported in July and well below market expectations of a rise of more than 700,000.
Meanwhile, producers in the Gulf of Mexico were continuing to aim to bring production capacities back online in the wake of Hurricane Ida. While operations mostly escaped major damage from the storm, there has been minimal recovery in Gulf of Mexico oil output to date, analysts said Sept. 6. (S&P Global Platts)
Energy companies have been coping with damaged platforms and onshore power outages and logistical issues, slowing efforts to restart production. Some 88% of crude oil output and 83% of natural gas production remained suspended. About 1.6 million barrels of crude oil remained offline, with only about 100,000 barrels added since Saturday. Another 1.8 billion cubic feet per day of natural gas output also was shut-in, the regulator said. (Reuters)
OIL MARKET ROUND-UP:
* Miles-Long Gulf Oil Spill After Ida Investigated by Coast Guard
* Hedge Funds Boost Net Bullish Brent, WTI Oil Bets to 3-Week High
* Oil Explorers Made Biggest Drilling Cut This Year Ahead of Ida
* Oil Flows From 32 Countries and Regions Fell 563k B/D in August
* South Africa Sets Rule to Lower Sulfur in Diesel Fuel by 2023
Singapore 380 INDIC
Oct21 405.00 / 407.00
Nov21 396.00 / 398.00
Dec21 391.25 / 393.25
Jan22 387.75 / 389.75
Feb22 386.00 / 388.00
Mar22 384.25 / 386.25
Q4-21 397.50 / 399.50
Q1-22 386.00 / 388.00
Q2-22 380.75 / 382.75
Q3-22 374.75 / 377.75
CAL22 379.50 / 382.50
Rotterdam 3.5% INDIC
Oct21 383.00 / 385.00
Nov21 377.75 / 379.75
Dec21 373.50 / 375.50
Jan22 370.75 / 372.75
Feb22 369.00 / 371.00
Mar22 367.25 / 369.25
Q4-21 378.25 / 380.25
Q1-22 369.00 / 371.00
Q2-22 363.75 / 365.75
Q3-22 357.50 / 360.50
CAL22 362.00 / 365.00
Singapore VLSFO 0.5% INDIC
Oct21 514.00 / 519.00
Nov21 509.25 / 514.25
Dec21 505.25 / 510.25
Jan22 502.50 / 507.50
Feb22 500.00 / 505.00
Mar22 497.50 / 502.50
Q4-21 509.50 / 514.50
Q1-22 500.00 / 505.00
Q2-22 492.00 / 498.00
Q3-22 485.25 / 491.25
CAL22 488.75 / 494.75
Rott VLSFO 0.5% INDIC
Oct21 491.50 / 496.50
Nov21 488.75 / 493.75
Dec21 486.25 / 491.25
Jan22 483.75 / 488.75
Feb22 481.25 / 486.25
Mar22 478.75 / 483.75
Q4-21 489.00 / 494.00
Q1-22 481.25 / 486.25
Q2-22 473.75 / 479.75
Q3-22 467.00 / 473.00
CAL22 470.50 / 476.50
Sing 10ppm GO INDIC
Oct21 78.95 / 79.09
Nov21 78.45 / 78.65
Dec21 78.00 / 78.20
Jan22 77.70 / 77.90
Feb22 77.45 / 77.65
Mar22 77.23 / 77.43
Q4-21 78.45 / 78.65
Q1-22 77.46 / 77.66
Q2-22 76.91 / 77.11
Q3-22 76.48 / 76.68
CAL22 76.55 / 76.95
Ice Gasoil Swap
Oct21 600.96 / 602.96
Nov21 596.65 / 598.65
Dec21 593.09 / 595.09
Jan22 591.03 / 593.03
Feb22 588.93 / 590.93
Mar22 586.68 / 588.68
Q4-21 596.90 / 598.90
Q1-22 588.88 / 590.88
Q2-22 583.78 / 585.78
Q3-22 585.88 / 587.88
CAL22 584.96 / 587.96
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
The information provided in this communication is not intended for retail clients. It is general in nature only and does not constitute advice or an offer to sell, or the solicitation of an offer to purchase any swap or other financial instruments, nor constitute any recommendation on our part. The information has been prepared without considering your investment objectives, financial situation, or knowledge and experience. This material is not a research report and is not intended as such. FIS is not responsible for any trading decisions taken based on this communication. Trading swaps and over-the-counter derivatives, exchange-traded derivatives, and options involve substantial risk and are not suitable for all investors. You are advised to perform an independent investigation to determine whether a transaction is suitable for you. No part of this material may be copied or duplicated in any form by any means or redistributed without our prior written consent. Freight Investor Services Ltd (FIS) is authorised and regulated by the Financial Conduct Authority (FRN: 211452) and is a member of the National Futures Association (“NFA”). Freight Investor Services PTE Ltd (‘FIS PTE’) is a private limited company, incorporated and registered in Singapore with company number 200603922G, and has subsidiary offices in India and Shanghai. Freight Investor Solutions DMCC (‘FIS DMCC’) is a private limited company, incorporated and registered in Dubai with company number DMCC1225. Further information about FIS including the location of its offices can be found on our website at www.freightinvestorservices.com