At 11 am Singapore time (0300 GMT), the ICE January Brent futures contract was up 12 cents/b (0.15%) from the previous close at $82.76/b, while the NYMEX December light sweet crude contract rose 13 cents/b (0.16%) at $81.47/b.
EIA week ending 11/5
Crude oil: +1.0M
Gasoline: -1.6M
Distillates: -2.6M
Refiner utilz: 86.7%
Impld mogas demand: 9.26Mbpd
According to the US Energy Information Administration’s latest data released late Nov. 10, US crude inventories registered a weekly build of 1 million barrels. Crude oil fell today after the Energy Information Administration reported an inventory build of 1 million barrels for the week to November 5. This compares with a build of 3.3 million barrels for the previous week and analyst expectations of a build of 1.9 million barrels. (Oilprice.com)
At 435.1 million barrels, the EIA said, crude oil inventories were 7 percent below the five-year average for this time of year. In fuels, inventory movements included a draw in gasoline and another one in middle distillates. In gasoline, the authority estimated inventories had shed 1.6 million barrels in the week to November 5, while in middle distillates, inventories fell by 2.6 million barrels last week. (Oilprice.com)
At 11.00 am in Singapore, the US Dollar Index was trading at 94.970, up 0.08% from the previous close at 94.890. However, the short-term pressures on oil prices, coming from a weekly build in US inventories and the rise in the US dollar, are offset by the outlook that the oil market is fundamentally undersupplied, which is keeping oil prices rangebound as investors view any decline as an opportunity to buy. (S&P Global Platts)
OPEC is scheduled to release its monthly oil market report later Nov. 11 and participants are awaiting the report for cues on market fundamentals.
Rotterdam 3.5% INDIC
Dec21 423.25 / 425.25
Jan22 423.25 / 425.25
Feb22 422.75 / 424.75
Mar22 421.00 / 423.00
Apr22 419.00 / 421.00
May22 416.75 / 418.75
Q1-22 422.25 / 424.25
Q2-22 416.50 / 418.50
Q3-22 408.00 / 410.00
Q4-22 397.00 / 400.00
CAL22 410.50 / 413.50
CAL23 377.75 / 385.75
Singapore 380 INDIC
Dec21 443.50 / 445.50
Jan22 442.50 / 444.50
Feb22 441.00 / 443.00
Mar22 439.75 / 441.75
Apr22 438.00 / 440.00
May22 436.00 / 438.00
Q1-22 441.00 / 443.00
Q2-22 435.75 / 437.75
Q3-22 428.50 / 430.50
Q4-22 420.00 / 423.00
CAL22 431.00 / 434.00
CAL23 400.75 / 408.75
Rott VLSFO 0.5% INDIC
Dec21 556.25 / 561.25
Jan22 551.75 / 556.75
Feb22 547.50 / 552.50
Mar22 543.25 / 548.25
Apr22 539.00 / 544.00
May22 535.00 / 540.00
Q1-22 547.50 / 552.50
Q2-22 535.00 / 540.00
Q3-22 522.75 / 528.75
Q4-22 511.25 / 517.25
CAL22 529.00 / 535.00
CAL23 489.25 / 498.25
Singapore VLSFO 0.5% INDIC
Dec21 590.50 / 595.50
Jan22 581.75 / 586.75
Feb22 574.75 / 579.75
Mar22 568.75 / 573.75
Apr22 564.00 / 569.00
May22 559.75 / 564.75
Q1-22 575.25 / 580.25
Q2-22 560.00 / 565.00
Q3-22 547.25 / 553.25
Q4-22 535.50 / 541.50
CAL22 554.25 / 560.25
CAL23 514.25 / 523.25
Sing 10ppm GO INDIC
Dec21 92.94 / 93.08
Jan22 91.85 / 92.05
Feb22 90.89 / 91.09
Mar22 90.16 / 90.36
Apr22 89.50 / 89.70
May22 88.93 / 89.13
Q1-22 90.95 / 91.15
Q2-22 88.94 / 89.14
Q3-22 87.42 / 87.62
Q4-22 86.08 / 86.28
CAL22 88.25 / 88.65
CAL23 83.00 / 83.40
Ice Gasoil Swap
Dec21 703.96 / 705.96
Jan22 697.63 / 699.63
Feb22 691.48 / 693.48
Mar22 683.66 / 686.66
Apr22 677.39 / 680.39
May22 672.44 / 675.44
Q1-22 690.60 / 693.60
Q2-22 673.60 / 676.60
Q3-22 664.29 / 667.29
Q4-22 661.17 / 664.17
CAL22 672.42 / 675.42
CAL23 639.76 / 643.76
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