FIS Fuel Oil Morning Report 29/09/21

At 10:30 am Singapore time (0230 GMT), the ICE November Brent futures contract was down 98 cents/b (1.24%) from the previous close at $78.11/b, while the NYMEX November light sweet crude contract was 83 cents/b (1.10%) lower at $74.46/b.   In inventory news, the American Petroleum Institute reported late Sept. 28 that US crude supplies …

FIS Singapore Iron Ore Derivatives Report 28/09/21

Market Commentary Iron ore futures slumped to near-$110 as China’s power crisis intensifies, dampening the consumption outlook for the raw material. China’s industrial sector is facing a power crunch that limits operations of steel works. According to Mysteel, over 80 steel mills in September suspended production for maintenance as some northern provinces have imposed power …