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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
745.01
0.00
612.00
+3.00
Sep 16
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	745.01	0.00	612.00	+3.00	Sep 16

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
501.50	+0.81	600.08	+2.77	748.10	+1.09	Sep 17

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MBP INDEX vs DBP INDEX (ICE/NYMEX)

All Indexes in $/mton	380HSFO			VLS FO			MGO LS			Date
All Indexes in $/mton	MBP Index	DBP Index	Diff	MBP Index	DBP Index	Diff	MBP Index	DBP Index	Diff	Date
Rotterdam	412	463	-51	508	553	-45	612	721	-109	Sep 17
Singapore	440	479	-39	580	555	+25	622	730	-108	Sep 17
Fujairah	464	490	-26	574	548	+26	774	778	-4	Sep 17
Houston	414	462	-48	504	580	-76	632	638	-6	Sep 17

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Latest News
- 2024-09-17
  Oil extends gains on US output concerns, expected drop in stockpiles
  Oil prices extended gains on Tuesday as the market eyed U.S. output concerns in the aftermath of Hurricane Francine and expectations of lower U.S. crude stockpiles. Brent crude futures for November rose 16 cents, or 0.2% at $72.91 a barrel at 0120... Read more Oil prices extended gains on Tuesday as the market eyed U.S. output concerns in the aftermath of Hurricane Francine and expectations of lower U.S. crude stockpiles.
  
  Brent crude futures for November rose 16 cents, or 0.2% at $72.91 a barrel at 0120 GMT. U.S. crude futures for October climbed 34 cents, or 0.5%, at $70.43 a barrel.
  
  Both contracts settled higher in the previous session as the ongoing impact of Hurricane Francine on output in the U.S. Gulf of Mexico countered Chinese demand concerns ahead of this week's U.S. Federal Reserve interest rate cut decision, which should prove positive for investor sentiment in oil.
  
  More than 12% of crude production and 16% of natural gas output in the U.S. Gulf of Mexico were offline, according to the U.S. Bureau of Safety and Environmental Enforcement (BSEE) on Monday.
  
  The market is keeping a close watch on the upcoming decision by the U.S. Federal Reserve on the interest rate cut. A lower interest rate will reduce the cost of borrowing and can potentially lift oil demand by supporting economic growth.
  
  "Growing expectations of an aggressive rate cut boosted sentiment across the commodities complex," said ANZ analysts in a note, adding that ongoing supply disruptions also supported oil markets.
  
  Investors also eyed an expected drop in U.S. crude inventories, which likely fell by about 200,000 barrels in the week to Sept. 13, based on a Reuters poll. [EIA/S]
  
  Still, lower-than-expected demand growth in China, the world's largest crude importer, have capped price gains. China's oil refinery output fell for a fifth month in August amid declining fuel demand and weak export margins, government data showed on Saturday.
  
  Source: Reuters
- 2024-09-17
  Oil prices edge higher as markets weigh interest rate cuts, demand fears
  Oil prices rose slightly in Asian trade on Tuesday, seeing persistent support from the prospect of interest rate cuts and supply disruptions caused by Hurricane Francine. But gains in crude were limited by concerns over slowing demand, especially in... Read more Oil prices rose slightly in Asian trade on Tuesday, seeing persistent support from the prospect of interest rate cuts and supply disruptions caused by Hurricane Francine.
  
  But gains in crude were limited by concerns over slowing demand, especially in top importer China after a string of weak economic readings from the country over the weekend.
  
  Brent oil futures expiring in November rose 0.2% to $72.88 a barrel, while West Texas Intermediate crude futures rose 0.3% to $69.24 a barrel by 21:07 ET (01:07 GMT).
  
  Supply disruptions from Hurricane Francine linger
  U.S. authorities said that more than 12% of crude production and 16% of natural gas output in the Gulf of Mexico remained offline following the impact of Hurricane Francine.
  
  Extended disruptions in U.S. production herald tighter supplies in the country, presenting some upside for crude prices.
  
  But oil producers in the region were seen working to bring production back online in the past few days, especially as Francine began to weaken after making landfall.
  
  Fed meeting, interest rate cut in focus.
  Focus this week was squarely on the conclusion of a Federal Reserve meeting on Wednesday, where the central bank is widely expected to cut interest rates.
  
  Bets on a bigger, 50 basis point cut grew in recent sessions, with the Fed also expected to kick off an easing cycle from Wednesday.
  
  This notion weighed on the dollar, which benefited oil prices. The prospect of lower interest rates also presented a brighter outlook for oil demand, given that lower rates foster economic growth.
  
  Demand fears limit oil’s upside
  But further gains in oil were held back by persistent concerns over slowing demand, especially in top importer China.
  
  Oil prices were also nursing a tumble to near three-year lows from last week, after concerns over China saw the Organization of Petroleum Exporting Countries and the International Energy Agency both cut their demand outlook for the coming years.
  
  A string of weak economic data released over the weekend brewed more concerns over slowing growth in China, especially as the world’s biggest oil importer grapples with deflation.
  
  Fears of a renewed trade war between China and the West also dented sentiment towards the country.
  
  Source: Investing.com
- 2024-09-17
  Investors turned more bearish on oil last week than ever
  Investors were more bearish than ever on crude oil last week, deepening a months-long selloff that pressured prices to multi-year lows amid growing concerns of weak demand in top consuming nations. Negative sentiment swept oil markets so strongly that... Read more Investors were more bearish than ever on crude oil last week, deepening a months-long selloff that pressured prices to multi-year lows amid growing concerns of weak demand in top consuming nations.
  
  Negative sentiment swept oil markets so strongly that short positions on Brent crude overtook long positions for the first time, data from the Intercontinental Exchange (NYSE:ICE) showed on Friday. Short positions - bets on lower prices - totaled 164,223 contracts, while long positions, or bets on higher prices, amounted to 151,543 contracts, the data showed.
  
  "This historic speculative selling pressure prompted a more than $10/bbl collapse in crude prices between late-August and this past Tuesday," Commodity Context analyst Rory Johnston wrote.
  
  Investors' oil outlook has soured as demand growth for the commodity has failed to meet the lofty levels of recent years, pressured by turmoil in top importer China's economy. Supplies have also overwhelmed markets this year, with U.S. oil producers pumping record amounts of oil.
  
  Brent crude futures settled below $70 a barrel on Sept. 10 for the first time since December 2021. They closed at $72.75 a barrel on Tuesday, down more than 20% since this year's peak of more than $90 a barrel in mid-April.
  
  Hedge funds were particularly bearish on diesel as prices approached their lowest levels in three years, TACenergy traders wrote on Monday.
  
  Money managers increased short bets on U.S. ultra-low sulfur diesel futures by more than 12,000 contracts to 65,084 contracts in the week to Sept. 10, data from the Commodity Futures Trading Commission showed.
  
  ULSD futures slumped to $2.04 per gallon last week, their lowest since December 2021, dragged down by weak economic activity and growing use of alternative fuels.
  
  Record-low sentiment in speculative markets could mean that the months-long slump in oil prices is nearing its end, going by historical patterns, market participants said.
  
  "Extreme positions by speculators are known to be reliable contrary indicators as when everyone gets on the same side of the boat, that's when it tips over," U.S. fuel distributor TACenergy said.
  
  They cautioned that it is hard to predict when positioning will reverse, but markets could see sharp volatility when it does.
  
  "With so much combined short interest, when the bidding does start, you can expect there to be some fast price spikes," TACenergy said. Source: Reuters
- 2024-09-16
  Oil prices climb ahead of US interest rate decision
  Oil prices rose about 2% on Monday as continuing disruption to U.S. Gulf oil infrastructure balanced persistent demand concerns after a fresh round of Chinese data while investors await a likely cut to U.S. interest rates this week. Brent crude futures... Read more Oil prices rose about 2% on Monday as continuing disruption to U.S. Gulf oil infrastructure balanced persistent demand concerns after a fresh round of Chinese data while investors await a likely cut to U.S. interest rates this week.
  
  Brent crude futures for November were up $1.40, or 1.96%, at $73.01 a barrel by 1315 GMT. U.S. crude futures for October rose $1.60, or 2.33%, to $70.25.
  
  The market is likely to remain cautious until the Federal Reserve makes its interest rate decision on Wednesday, said Phillip Nova analyst Priyanka Sachdeva, adding that prices are still supported by some supply worries given that some capacity remains offline in the Gulf of Mexico.
  
  Traders are increasingly betting on a Fed rate cut of 50 basis points (bps) rather than 25 bps, as shown by the CME FedWatch tool that tracks fed fund futures.
  
  Lower interest rates typically reduce the cost of borrowing, which can boost economic activity and lift demand for oil.
  
  However, a cut of 50 bps could also signal weakness in the U.S. economy, which could raise concerns over oil demand, said OANDA analyst Kelvin Wong.
  
  Saxo Bank analyst Ole Hansen, meanwhile, said activity is likely to remain light ahead of the Fed meeting, adding that the outcome "looks like a coin toss between 25 and 50 bps".
  
  Nearly a fifth of crude oil production and 28% of natural gas output in the Gulf of Mexico remains offline in the aftermath of Hurricane Francine.
  
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  Weaker Chinese economic data released over the weekend dampened market sentiment, with the low-for-longer growth outlook in the world's second-largest economy reinforcing doubts over oil demand, IG market strategist Yeap Jun Rong said in an email.
  
  Industrial output growth in China, the world's top oil importer, slowed to a five-month low in August while retail sales and new home prices weakened further.
  
  Oil refinery output also fell for a fifth month as weak fuel demand and export margins curbed production.
  
  Brent and WTI each gained about 1% last week but remain comfortably below their August averages of $78.88 and $75.43 a barrel respectively after a price slide around the start of this month driven in part by demand concerns.
  
  Source: investing.com; Reuters
- 2024-09-16
  Oil prices rise as rate cut hopes, Francine disruption offset demand fears
  Oil prices rose Monday, benefiting from ongoing disruption to U.S. Gulf oil production as well as a softer dollar ahead of an expected interest rate cut by the Federal Reserve later this week. At 08:05 ET (12:05 GMT), Brent oil futures rose 0.7% to... Read more Oil prices rose Monday, benefiting from ongoing disruption to U.S. Gulf oil production as well as a softer dollar ahead of an expected interest rate cut by the Federal Reserve later this week.
  
  At 08:05 ET (12:05 GMT), Brent oil futures rose 0.7% to $72.11 a barrel, while West Texas Intermediate crude futures rose 0.8% to $68.30 a barrel.
  
  Rate cuts in focus as Fed meeting looms
  A softer dollar was the biggest point of support for oil prices, as markets positioned for an interest rate cut from the Fed on Wednesday.
  
  The central bank is likely to kick off an easing cycle, although traders are split over a 25 or 50 basis point cut.
  
  Still, lower rates bode well for economic growth, which in turn could help keep U.S. fuel demand supported in the coming months.
  
  Continued disruption in Gulf of Mexico
  Also helping the tone was the continued disruption of production in the Gulf of Mexico following the arrival of Hurricane Francine.
  
  Nearly a fifth of crude oil production and 28% of natural gas output in U.S. Gulf of Mexico federal waters remains offline, the U.S. offshore energy regulator said on Sunday.
  
  Francine hit Louisiana as a Category 2 hurricane on Wednesday, eventually cutting power in four southern states.
  
  Chinese economic data underwhelms
  But gains were capped by persistent concerns over slowing demand, especially following a slew of weaker-than-expected economic data from China over the weekend.
  
  Industrial production and retail sales both missed expectations, while unemployment rose and house prices fell.
  
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  The readings ramped up concerns that slowing economic growth in the world’s biggest oil importer will dent its appetite for crude.
  
  Analysts at ANZ said Beijing was likely to roll out more stimulus measures to help support local economic growth, although they still expect gross domestic product to come below the government’s 5% target in the third quarter.
  
  Concerns over China saw both the Organization of Petroleum Exporting Countries and the International Energy Agency slash their outlook for oil demand growth in the current year.
  
  Holidays in China and Japan also kept trading volumes relatively slim.
  
  Source: investing.com
- 2024-09-16
  Oil Net Short For First Time in History
  Brent crude oil is currently priced at $72.14 per barrel, showing a slight increase of $0.17 (+0.24%) for the day. However, behind this small rise is a much larger story unfolding in the oil markets. According to energy investor and market commentator... Read more Brent crude oil is currently priced at $72.14 per barrel, showing a slight increase of $0.17 (+0.24%) for the day. However, behind this small rise is a much larger story unfolding in the oil markets.
  According to energy investor and market commentator Eric Nuttall, the financial demand for oil, known as "net length," has dropped to its lowest point in history. Essentially, "net length" refers to the difference between the number of investors betting oil prices will rise (long positions) versus those betting they will fall (short positions). When net length is low, it means there is a reduced belief that prices will increase.
  What's even more striking is that, for the first time ever, the paper market for Brent crude is "net short." This means there are now more investors betting that oil prices will fall than those expecting them to rise. This is significant because it's rare to see such pessimism in the market, especially when physical global oil inventories are falling at a rate of about a million barrels per day.
  
  Why does this matter? Typically, when oil supply is low, prices tend to rise due to scarcity. However, the current setup is unusual—while physical oil barrels are declining, the financial market appears to be betting on lower prices. For contrarians who thrive on going against the crowd, this could signal an opportunity. They may believe the market is underestimating the potential for future price increases, given the tight supply situation.
  
  This tension between the financial and physical sides of the oil market suggests that volatility and price swings may be on the horizon. Keep an eye on these dynamics as they unfold.
  
  By Julianne Geiger for Oilprice.com Source: Oilprice.com
- 2024-09-16
  Oil prices inch up on Fed rate cut outlook
  Oil prices edged up in early trade on Monday amid expectations of a U.S. interest rate cut this week, though gains were capped by U.S. supply resumptions following Hurricane Francine and weaker China data. Brent crude futures for November were up 15... Read more Oil prices edged up in early trade on Monday amid expectations of a U.S. interest rate cut this week, though gains were capped by U.S. supply resumptions following Hurricane Francine and weaker China data.
  
  Brent crude futures for November were up 15 cents, or 0.2% at $71.76 a barrel at 0015 GMT. U.S. crude futures for October were up 23 cents, or 0.3%, at $68.88 a barrel.
  
  Both contracts had settled lower in the previous session, with concerns about supply disruptions easing as Gulf of Mexico crude production resumed following Hurricane Francine and as rising data showed a weekly rise in U.S. rig count.
  
  Still, nearly a fifth of crude oil production and 28% of natural gas output in the Gulf of Mexico remain offline in the hurricane's aftermath.
  
  A key factor that will dominate the market this week is how aggressive a rate cut the U.S. Federal Reserve will deliver following its Sept. 17-18 meeting. Fed fund futures show investors are increasingly betting the central bank will cut by 50 basis points instead of 25 bps, according to CME FedWatch.
  
  Lower interest rates will reduce the cost of borrowing, which can boost economic activity and lift demand for oil.
  
  "We remain in the gradualist camp and expect the Fed to begin cutting by 25 basis points," ANZ analysts in a note.
  
  In China, the world's top oil importer, industrial output growth slowed to a five-month low in August, while retail sales and new home prices weakened further. Oil refinery output also fell for a fifth month, as disappointing fuel demand and weak export margins curbed production.
  
  Source: investing.com
- 2024-09-16
  Gold prices hit record high on rate cut bets, Trump assassination attempt
  Gold prices hit a record high in Asian trade on Monday amid growing bets that the Federal Reserve will cut interest rates by a bigger margin later this week. Reports of a second assassination attempt on Republican presidential nominee Donald Trump... Read more Gold prices hit a record high in Asian trade on Monday amid growing bets that the Federal Reserve will cut interest rates by a bigger margin later this week.
  
  Reports of a second assassination attempt on Republican presidential nominee Donald Trump also spurred some demand for safe havens, although Trump appeared to be unharmed, and the assailant apprehended.
  
  Asian trading volumes were somewhat limited by market holidays in Japan, China, and South Korea.
  
  Spot gold rose 0.4% to a record high of $2,589.02 an ounce, while gold futures expiring in December rose 0.1% to $2,613.70 an ounce.
  
  Gold benefits from rate cut bets as Fed looms
  A softer dollar allowed for more strength in gold prices, as markets awaited a Fed meeting.
  
  The central bank is widely expected to cut interest rates on Wednesday, although markets are split between a 25 or 50 basis point cut.
  
  CME Fedwatch showed markets split exactly 50% over the two options, with bets on a bigger cut coming back into play on concerns over weakness in the labor market.
  
  The central bank is also expected to kick off an easing cycle from this week, with analysts expecting at least 100 bps of rate cuts by the end of the year.
  
  Lower rates bode well for precious metals, given that they reduce the opportunity cost of investing in non-yielding assets.
  
  Platinum futures rose 0.4% to $1,004.80 an ounce, while silver futures rose 0.8% to $31.332 an ounce.
  
  Trump assassination attempt spurs some safe haven demand
  Source:
- 2024-09-16
  Oil prices edge higher as rate cut hopes offset demand fears
  Oil prices rose slightly in Asian trade on Monday, benefiting from a softer dollar as traders positioned for an interest rate cut by the Federal Reserve later this week. But gains were capped by persistent concerns over slowing demand, especially... Read more Oil prices rose slightly in Asian trade on Monday, benefiting from a softer dollar as traders positioned for an interest rate cut by the Federal Reserve later this week.
  
  But gains were capped by persistent concerns over slowing demand, especially following a slew of weaker-than-expected economic data from China over the weekend. U.S. production was also seen picking up from the impact of Hurricane Francine in the Gulf of Mexico.
  
  Market holidays in China and Japan also kept trading volumes relatively slim.
  
  Brent oil futures expiring in November rose 0.2% to $71.75 a barrel, while West Texas Intermediate crude futures rose 0.3% to $67.94 a barrel by 21:40 ET (01:40 GMT).
  
  Rate cuts in focus as Fed meeting looms
  A softer dollar was the biggest point of support for oil prices, as markets positioned for an interest rate cut from the Fed on Wednesday.
  
  The central bank is likely to kick off an easing cycle, although traders are split over a 25 or 50 basis point cut.
  
  Still, lower rates bode well for economic growth, which in turn could help keep U.S. fuel demand supported in the coming months.
  
  Chinese economic data underwhelms
  Chinese economic data released over the weekend pointed to more economic weakness in the world’s biggest oil importers.
  
  Industrial production and retail sales both missed expectations, while unemployment rose and house prices fell.
  
  The readings ramped up concerns that slowing economic growth in the world’s biggest oil importer will dent its appetite for crude.
  
  3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
  Analysts at ANZ said Beijing was likely to roll out more stimulus measures to help support local economic growth, although they still expect gross domestic product to come below the government’s 5% target in the third quarter.
  
  Concerns over China saw both the Organization of Petroleum Exporting Countries and the International Energy Agency slash their outlook for oil demand growth in the current year.
  
  The move pulled oil prices to near three-year lows last week, although they did rebound marginally. Source: investing.com
- 2024-09-16
  Fifth of US Gulf of Mexico crude oil and 28% of gas offline, regulator says
  Nearly a fifth of crude oil production and 28% of natural gas output in U.S. Gulf of Mexico federal waters remains offline in the aftermath of Hurricane Francine, the U.S. offshore energy regulator said on Sunday. Francine marched through prime offshore... Read more Nearly a fifth of crude oil production and 28% of natural gas output in U.S. Gulf of Mexico federal waters remains offline in the aftermath of Hurricane Francine, the U.S. offshore energy regulator said on Sunday.
  
  Francine marched through prime offshore oil and natural gas producing areas and hit Louisiana as a Category 2 hurricane on Wednesday. The storm toppled trees, flooded coastal areas and cut power in four southern states.
  
  Energy producers on Sunday had 338,690 barrels per day of oil production and nearly 515 million cubic feet of natural gas offline in Gulf waters, the Bureau of Safety and Environmental Enforcement estimated from producer reports.
  
  Cumulative offshore production losses due to Francine total 2.16 million barrels of crude oil and 4.635 billion cubic feet of natural gas, according to a Reuters tally of BSEE daily estimates.
  
  There were 37 oil and gas platforms still evacuated on Sunday, about 10% of the Gulf of Mexico total, down from 171 evacuated offshore platforms at peak last week, the offshore regulator said citing reports from producers.
  Source: investing.com; Reuters