Crude oil futures appeared to find some support as the weak began cautiously. Brent settled just 2 cents below at $ 51.35 / bbl. WTI lost 9 cents to settle at $ 48.40 /bbl.
Naphtha prices are marginally firmer today over yesterday. The MOPJ crack for both March is valued at $ 1.15 / bbl. and April at $ 1.10 /bbl. The Singapore crack for March is valued at – $ 0.5 /bbl whereas April is at -$ 0.7 /bbl.
Gasoline cracks are at more or less at the same levels as yesterday. However, the flat price appears to have slipped into a mild contango, a bit bearish as compared to yesterday
The April crack is valued at $ 10.70 /bbl.
180 CST Fuel Oil
Fuel Oil finally gave up a little ground today. The March crack is valued at -$ 3.8/bbl and April around -$ 3.7/bbl.
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Disclaimer : All the views are the author’s personal views. These do not constitute an advice to buy or sell any commodity