Morning Oil Report 9/12/20

Brent crude futures slipped 18 cents, or 0.4%, to $48.66 a barrel by 0450 GMT before gaining 40 cents by 0730GMT to print $48.93, having gained 5 cents the previous day. U.S. West Texas Intermediate (WTI) crude futures dropped 15 cents, or 0.3%, to $45.45, after shedding 16 cents on Tuesday.   API figures released …

DCE’s bullish run calls for a break

Iron ore futures took a breather after the recent bullish run, which led the trading session to open high only to drop later at the close. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange booked a slight gain of 0.77% or RMB 7 day-on-day to RMB 912/mt on Tuesday. …