EXAMPLE DAILY REPORT

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Gas Oil up 8.00USD PMT and Crude is up 0.70USD per barrel 

Oil price declined a little yesterday as the front month Brent broke new highs. The latest US oil inventory levels released on Wednesday afternoon indicated that both the levels of crude oil and gasoline had declined.  

• This signals improved demand, although the inventories are still historically speaking large. The price turned down yesterday when the general insecurity about the economic recovery increased, but this corrected only some of Wednesday’s hike. The oil price is thus still strongly on the upward trend. This view is strengthened by the further rise of the front-month Brent price in China.

• Today crude oil rose in New York, as the dollar fell to a four- month low against the euro, drawing investors to crude as an inflation hedge.  

CIF MED MGO 0.1% 475.25 - 4.25

CIF MED FUEL 3.5% 331.25 -8.75 

Early Outlook 

We expect prices to move up for Monday’s spot bunker market 

Today’s Indications