Category archives: News

Morning Oil Report 16/12/20

Brent crude futures fell 11 cents, or 0.2%, to $50.65 a barrel at 0421 GMT before softening further to $50.48 at 0730GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 9 cents, or 0.2%, to $47.53 a barrel.   Crude inventories swelled by 2 million barrels in the week to Dec. 11 to about …

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DCE rallies on with record-breaking run

Iron ore futures broke the $1,000/mt mark, after a late rally in the afternoon session that pushed up rates at the close. Thus, the most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) rose by 2.96% day-on-day or RMB 29 to RMB 1,008/mt on Wednesday. The steel rebar contract on the Shanghai Futures …

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Capesize rates rallies on better Atlantic market

Capesize freight rates continued to rise on improving shipping demand, especially in the Atlantic market. The Capesize 5 time charter average then went up by $846 day-on-day to $13,128 on Tuesday, despite softening freight rates in the Pacific. The Baltic Dry Index (BDI) also maintained its upward climb and went up by 3.08% or 38 …

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Oil and Ore Intraday Morning Technical 16/12/20

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