ENGINE: Europe & Africa Bunker Fuel Market Update 26/7/21

Bunker prices have dipped with Brent in European ports, and Durban’s low sulphur prices are sharply down after peaking last week.   Changes on the day to 08.00 GMT today: VLSFO prices down in Durban ($27/mt), Gibraltar ($6/mt) and Rotterdam ($3/mt) LSMGO prices down in Durban ($15/mt), Gibraltar ($5/mt) and Rotterdam ($1/mt) HSFO prices down …

Daily DCE Review 26/7/21

Iron ore futures started the week on firmer note, after recovering from last week slump due to steel output restriction. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose slightly by 0.89% day-on-day or RMB 10 to RMB 1,136.50/mt during the day trading session on Monday. The rebar futures also went up …

Daily Capesize Review 23/7/21

Capesize freight rates rebounded on tight tonnage supply because of Typhoon In-Fa’s impact on central China’s coastal areas. The Baltic Dry Index (BDI) then increased by 3.09% day-on-day, up 96 points to 3,199 readings, due to the firmer freight rates.   Bullish Pacific amid tight vessel supply   The Pacific enjoyed healthy cargo list with …

FIS Fuel Oil Morning Report 26/07/21

Brent crude futures for September fell 44 cents, or 0.6%, to $73.66 a barrel by 0432 GMT while U.S. Texas Intermediate crude was at $71.62 a barrel, down 45 cents.   Oil spent much of last week clawing back losses, with ICE Brent managing to finish the week almost 8% up from last Monday’s close. …

Iron Ore DCE Sep Daily Technical Review 26/7/21

Verdict – Short-term neutral. DCE iron ore September rebounded slightly and overall stablised as predicted on last Friday. A breakthrough on 1161.5 would lead iron ore into a short-run bullish market. However a rejection on the intra-day high again would mean iron ore need more time to consolidate. Hourly MACD was running in stable mode …