Iron Ore Market Update Market Commentary Iron ore remained supported following an uptick in restocking. According to trade sources, restocking activities have picked up ahead of the peak steel season in September and October. Meanwhile, China’s push to reach its economic targets also added to the gains. According to a front-page article published …
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Morning Fuel Oil 26/08/21
Morning Oil Report Brent crude rose $1.20, or 1.7%, to settle at $72.25 a barrel. U.S. West Texas Intermediate (WTI) crude gained 82 cents, or 1.2%, to end at $68.36 a barrel. U.S. gasoline futures rose 5.5% to settle at $2.3008 a gallon. During the session, prices reached $2.3026 a gallon, their highest since …
Tanker Morning Report 26/08/21
News Headlines: OIL DAYBOOK EUROPE: Indian Jet Fuel Demand Climbs; U.S. Driving (Bloomberg) People across India are taking to the skies after months stuck in their homes during a deadly Covid-19 wave, driving a spike in demand for jet fuel, the oil product hit hardest by the ongoing pandemic. Americans Keep Driving Despite …
Fertilizer Market Report 25/08/21
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Singapore Iron Ore Derivatives 25/08/21
Iron Ore Market Update Market Commentary Iron ore remained resilient as investors took bets on China not allowing steel demand to collapse while its economic prospects remain uncertain. According to World Steel Association (WSA), China’s steel production dropped by 8.4% year-on-year to 86.8 million metric tonnes in July as China retched up efforts to …
Morning Fuel Oil 25/08/21
Morning Oil Report Brent crude futures dropped 25 cents, or 0.4%, to $70.80 a barrel by 0525 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 28 cents, or 0.4%, to $67.26. Both benchmark contracts rose by about 8% over the previous two days, erasing most of the slump from a seven-day …
Fertilizer Market Report 24/08/21
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Tanker Morning Report 25/08/21
News Headlines: Oil retreats after two-day rally on supply issues (Reuters) Oil prices fell on Wednesday, taking a breather after a strong rally this week spurred by the loss of a quarter of Mexico’s production and signs that China, the world’s biggest importer, has curbed a recent coronavirus outbreak. ANZ commodity …
Singapore Iron Ore Derivatives 24/08/21
Iron Ore Market Update Market Commentary Iron ore rebounded to near $150 as market sentiment has improved ahead of the peak seasonality. Rebar production in China rose by 1.1% during the 12-18 August period to 3.25 million metric tonnes, data by Mysteel showed. The increase in rebar production was due to preparation for …
Morning Fuel Oil 24/08/21
Morning Oil Report At 9:50 am Singapore time (0150 GMT), the ICE October Brent futures contract was up 40 cents/b (0.58%) from the previous close at $69.15/b, while the NYMEX October light sweet crude contract was 32 cents/b (0.49%) higher at $65.96/b. Both oil benchmarks settled 5.3%-5.4% higher overnight after a spate of …