Oil Through the looking Glass 04/11/20

*Oil Rises After Trump Falsely Claims Victory in Tight U.S. Election* Oil is up over % on Wednesday at 1440GMT as Trump has claimed victory in the election, with the polls suggesting that the result will go down to the wire with millions of votes still left to be counted. A trump victory has always …

DCE falls on softer winter steel demand

Iron ore futures fell on the close, despite opening high at the afternoon session before slumping toward the end, due to slower steel demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange went down by 0.63% day-on-day to RMB 786.50/mt on Wednesday. The steel rebar contract on the Shanghai Futures …

Morning Oil Report 04/11/20

Brent remain choppy this morning as API data shows of a Crude draw in the US but the short-term outlook remained uncertain as the outcome of the US election remained as clear as mud. West Texas Intermediate was up 0.3%, at $37.67 a barrel by 0735GMT, after trading in a nearly $1 range. Brent crude …