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
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