*China’s New 0.5% Contract* The new contract will launch Monday on the Shanghai International Energy Exchange (INE). This development follows the news that 20 Chinese refineries are ready to provide the new IMO compliant fuel. China removed a consumption tax on fuel oil this year and issued its first-ever supply quotas for 10 million tonnes …
Author archives: Edward Hutton
Iron Ore Offshore July 20 Morning Technical Comment – 240 Min Chart
Brent August 20 Morning Technical Comment – 240 Min
FIS Panamax Technical Report
FIS Panamax Technical Report The index is technically bullish having broken last weeks Fractal resistance. Near-term upside target is USD 9,601 with further resistance up to USD 11,315. Downside moves remain technically bullish above USD 6,934 and neutral below. To view the full report please click on the link
Supramax July 20 Morning Technical Comment – 240 Min
Iron Ore Held in Check
Iron ore futures remain unchanged overnight Weds/Thurs with the July futures holding above USD 101.00 level (as of 06.15 UK time) having traded as low as USD 99.41. The world’s seconds largest commodity by volume followed the Shanghai Composite index in a holding pattern as traders wait in anticipation of the next round of RRR …
Oil Through the Looking Glass 18/6/20
*Fuel Demand to Remain Under Pressure* OPEC predicts that demand for fuel will continue to struggle into the second half of the year due to the effects of the virus. The group has kept its forecast for oil consumption unchanged predicting a 9% fall in demand, however it cut its supply needs by 2.17 mbd. …
