Brent crude futures fell 71 cents, or 1.4%, to $49.37 a barrel at 0646 GMT, while U.S. West Texas Intermediate (WTI) crude futures slid 67 cents, or 1.4%, to $46.35 a barrel. Both contracts fell nearly 2% on Tuesday, already a second straight session of declines.
API Crude +2.70M Cushing +0.341M Gasoline -0.224M Distillate +1.03M
The oil recovery remains uncertain on the ability of demand recovering at the same rate of supply increases as we enter into the new year. The price correction that we saw on Monday saw brent lose nearly 4% on the day and Tuesday followed in a similar fashion, falling around 2%. With transport to the UK being banned from many countries and freight still stuck on the wrong side of the channel for the UK, the end of the year will prove to be a pivotal time in the UK’s development in life outside of the EU.
The American Petroleum Institute (API) reported on Tuesday that U.S. crude inventories have risen by 2.7 million barrels in the week to Dec. 18, compared with analysts’ expectations for a draw of 3.2 million barrels.
Rotterdam 3.5% INDIC
Jan21 274.75 / 276.75
Feb21 273.75 / 275.75
Mar21 272.50 / 274.50
Apr21 270.25 / 272.25
May21 267.75 / 269.75
Jun21 265.25 / 267.25
Q1-21 273.50 / 275.50
Q2-21 267.75 / 269.75
Q3-21 259.75 / 261.75
Q4-21 251.50 / 254.50
CAL21 267.00 / 270.00
Singapore 380 INDIC
Jan21 292.00 / 294.00
Feb21 290.75 / 292.75
Mar21 289.50 / 291.50
Apr21 287.25 / 289.25
May21 285.00 / 287.00
Jun21 282.75 / 284.75
Q1-21 290.75 / 292.75
Q2-21 285.00 / 287.00
Q3-21 278.25 / 280.25
Q4-21 272.00 / 275.00
CAL21 286.00 / 289.00
Rott VLSFO 0.5% INDIC
Jan21 355.25 / 360.25
Feb21 354.75 / 359.75
Mar21 354.50 / 359.50
Apr21 354.25 / 359.25
May21 354.00 / 359.00
Jun21 354.00 / 359.00
Q1-21 354.75 / 359.75
Q2-21 354.00 / 359.00
Q3-21 353.25 / 359.25
Q4-21 352.50 / 358.50
CAL21 353.50 / 359.50
Singapore VLSFO 0.5% INDIC
Jan21 373.75 / 378.75
Feb21 373.50 / 378.50
Mar21 373.50 / 378.50
Apr21 373.75 / 378.75
May21 374.00 / 379.00
Jun21 374.25 / 379.25
Q1-21 373.50 / 378.50
Q2-21 374.00 / 379.00
Q3-21 374.25 / 380.25
Q4-21 374.50 / 380.50
CAL21 373.75 / 379.75
Sing 10ppm GO INDIC
Jan21 55.42 / 55.56
Feb21 55.39 / 55.59
Mar21 55.49 / 55.69
Apr21 55.62 / 55.82
May21 55.75 / 55.95
Jun21 55.84 / 56.04
Q1-21 55.45 / 55.65
Q2-21 55.74 / 55.94
Q3-21 56.15 / 56.35
Q4-21 56.39 / 56.59
CAL21 55.83 / 56.23
ICE Gasoil 10ppm INDIC
Jan21 413.67 / 415.67
Feb21 416.09 / 418.09
Mar21 417.75 / 419.75
Apr21 418.73 / 420.73
May21 419.78 / 421.78
Jun21 421.29 / 423.29
Q1-21 415.85 / 417.85
Q2-21 419.93 / 421.93
Q3-21 423.88 / 425.88
Q4-21 427.70 / 429.70
CAL21 421.84 / 423.84