57 cents, the weakest for the front month
By the start of May, front month
gasoil margins traded on the Ice platform were close to 13 per cent lower at the start of the previous month.
The S&P GSCI Crude Oil Enhanced index adjusts its exposure to the futures curve monthly, dynamically moving between the front month
and six month futures contract depending upon the steepness of the curve.
Brent front month
(Platts) (1C); group three unleaded gasoline (Platts) (A9); group three unleaded gasoline (Platts) vs.
WTI prices at NYMEX will be more volatile in 2005 than in 2004, although world demand growth last year was the strongest since 1976, at 2.
06 cents per lb at 1348 GMT, the weakest for the front month
since June 29.
Singapore fuel oil markets firmed last Wednesday, with the front month
time spreads, the front month
fuel oil cracks as well as physical cash discounts all rising to multi-week highs due to tightening near-term supplies.