Last Updated: 6/1/2009 5:40:11 PM

ITEM	OUTRIGHT
	PERIOD	PRICE
SINGAPORE FUELOIL SWAPS 180CST	JAN FEB MAR	252.50 / 253.00 250.50 / 251.00 254.25 / 254.75
FUELOIL CRACKS 180CST	JAN FEB MAR	-9.07 (N) / -8.87 (N) -10.32 (N) / -10.12 (N) -10.75 (N) / -10.55 (N)
ITEM	SPREAD
	PERIOD	PRICE
SINGAPORE FUELOIL SWAPS 180CST	JAN / FEB FEB / MAR MAR/APR	1.75 / 2.25 -4.00 / -3.50 -4.75 / -4.25
VISCO (180 CST versus 380 CST)	JAN FEB MAR	8.75 / 9.25 8.75 / 9.25 9.25 / 9.75

MARKET COMMENTS

• SINGAPORE FUELOIL 180CST PRICE AS OF 1800
• BRENT CRUDE FEB 49.25 MAR AT 52.03
• WTI CRUDE FEB AT 48.07 MAR AT 52.44