Morning Oil Report 20/9/21

Brent crude futures fell 48 cents, or 0.6%, to $74.86 a barrel at 0410 GMT after losing 33 cents on Friday. U.S. West Texas Intermediate (WTI) crude futures fell 55 cents, or 0.8%, to $71.42 a barrel, after declining by 64 cents on Friday.

 

Oil fell with the greenback near a three-week high following a rally on Friday on better-than-expected U.S. retail sales data. That bolstered expectations the U.S. Federal Reserve will begin reducing asset purchases later this year.

 

A rise in the U.S. rig count also kept a lid on oil prices. The oil and gas rig count rose by nine to 512 in the week to Sept. 17, its highest since April 2020 and double the level from this time last year, Baker Hughes said on Friday. As of Friday, 23% of U.S. Gulf of Mexico crude output, or 422,078 barrels per day, remained shut, the Bureau of Safety and Environmental Enforcement reported. (Reuters)

 

An optimistic sentiment was more apparent on the Asian high sulphur fuel oil front, where the market for both 380 CST HSFO and 180 CST HSFO were expected to remain firm going well into second half October loading trades. ARA fuel oil stocks fall 0.5% on week. High LNG prices causing fuel oil tightness. Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp region were down marginally by 0.5% week on week to 1.125 million mt in the week ended Sept. 16, according to data from Insights Global, after dropping 4.5% during the previous week.  Insights Global does not differentiate per fuel type. Fuel oil inventories in the region represented 21.2% of total refined oil products stocks, higher than last week’s share at 20.5%.

 

 

Rotterdam 3.5% INDIC                                 

Oct21    399.25   /             401.25

Nov21   394.50   /             396.50

Dec21    390.00   /             392.00

Jan22     387.00   /             389.00

Feb22    384.75   /             386.75

Mar22   382.25   /             384.25

Q4-21    394.50   /             396.50

Q1-22    384.75   /             386.75

Q2-22    377.25   /             379.25

Q3-22    368.50   /             371.50

CAL22    372.50   /             375.50

 

Singapore 380 INDIC                                     

Oct21    424.25   /             426.25

Nov21   413.75   /              415.75

Dec21    408.25   /             410.25

Jan22     403.75   /             405.75

Feb22    401.00   /             403.00

Mar22   398.50   /             400.50

Q4-21    415.25   /             417.25

Q1-22    401.00   /             403.00

Q2-22    393.50   /             395.50

Q3-22    385.50   /             388.50

CAL22    389.75   /             392.75

 

Rott VLSFO 0.5% INDIC                                 

Oct21    512.00   /              517.00

Nov21   509.00   /              514.00

Dec21    506.00   /              511.00

Jan22     503.25   /              508.25

Feb22    500.50   /              505.50

Mar22   498.00   /              503.00

Q4-21    509.00   /              514.00

Q1-22    500.75   /              505.75

Q2-22    492.50   /              498.50

Q3-22    485.00   /              491.00

CAL22    489.00   /              495.00

 

Singapore VLSFO 0.5% INDIC                                     

Oct21    537.25   /              542.25

Nov21   532.50   /              537.50

Dec21    528.25   /              533.25

Jan22     524.75   /              529.75

Feb22    522.00   /              527.00

Mar22   519.00   /              524.00

Q4-21    532.75   /              537.75

Q1-22    522.00   /              527.00

Q2-22    513.00   /              519.00

Q3-22    505.50   /              511.50

CAL22    509.75   /              515.75

 

Sing 10ppm GO INDIC                                   

Oct21    82.32     /              82.46

Nov21   81.77     /              81.97

Dec21    81.24     /              81.44

Jan22     80.82     /              81.02

Feb22    80.48     /              80.68

Mar22   80.16     /              80.36

Q4-21    81.75     /              81.95

Q1-22    80.49     /              80.69

Q2-22    79.66     /              79.86

Q3-22    78.87     /              79.07

CAL22    79.14     /              79.54

 

Ice Gasoil Swap                                               

Oct21    626.59   /              628.59

Nov21   622.54   /              624.54

Dec21    618.15   /              620.15

Jan22     615.09   /              617.09

Feb22    612.26   /              614.26

Mar22   608.91   /              610.91

Q4-21    622.45   /              624.45

Q1-22    612.09   /              614.09

Q2-22    604.23   /              606.23

Q3-22    600.50   /              602.50

CAL22    603.11   /              606.11

 

For more information please contact

 

FIS Oil Desk

 

info@freightinvestor.com
UK number: +44 (0) 207 090 1134
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Email: LukeL@freightinvestor.com

Mobile: (+44) 7966 968761

 

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Email: RickyF@freightinvestor.com

Mobile: (+44) 7868 708719

 

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Email: SamT@freightinvestor.com

Mobile: (+44) 7729 118643

 

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Mobile: (+86)1352 4516743

 

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

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