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November MEG ACP nominations

15 October 2019 / MEG Update

November MEG ACP nominations have appeared as a mixture of increases (of between $10/MT to $30/MT) and rollover.

The respective nominations for November are at $740/MT, $720/MT and $730/MT. All nominations are on a per MT CFR Asia basis.
September was an extremely volatile month, dominated by the consequences of the attacks on the Middle East. Brent crude oil values reached over $71/bbl and promptly fell away as the market calmed, reaching down below $60/bbl towards the end of the month and on into the first half of October.

Spot Asian MEG prices had a rollercoaster ride too, increasing by around $100/MT during September to as high as $650/MT as supply concerns dominated the horizon.

By month end spot values had fallen to around $605/t and further weakness appeared into October as all concerns about availability continued to dissipate.