Monthly archives: November 2020

Oil Through the Looking Glass 16.11.2020

*OPEC+ Starts Meetings to Weigh Further Steps to Support Market* Today marks the start of the meetings that will be looking to address the current state of the oil market, and how the cartel can look to support prices going into what may be a turbulent turn of the year as people look to rebuild …

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Morning Oil Report 16/11/20

Brent crude futures for January rose 44 cents, or 1%, to $43.22 a barrel by 0204 GMT, while U.S. West Texas Intermediate crude for December was at $40.67 a barrel, up 54 cents, or 1.4%.   Libya output continues to climb after analysts predict that output could be at around the 1.2 million barrels per …

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Iron Ore DCE January Daily Technical Review Nov 16th

Verdict – Short-term neutral. DCE iron ore Jan contract volatility increased and the high low range expanded compared to last Friday. A rejection on 850.0 would stuck iron ore in 819.5-850.0 in short-run. However a breakthrough on 850.0 would potentially trigger a new round of rebound. Hourly MACD potentially create a gold cross. Technical signals …

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Daily Ferrous Physical Review Nov 16th

Ferrous Market –    Steelbank: construction steel inventory 4.49 million tonnes, down 12.91% w-o-w. HRC inventory 1.67 million tonnes, down 14.44% w-o-w. –    China October crude steel production 92.2 million tonnes, up 12.7 y-o-y. Jan – Oct crude steel production 873.93 million tonnes, up 5.5% y-o-y. –    China Ministry of Industrial and Information Technology researcher indicated …

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