Category archives: News

Oil Through the Looking Glass 09.11.20

*Oil Market Eyes Iran’s Return with Biden Win* The president-elect has vowed to lift sanctions against Tehran and re-join the JCPOA nuclear deal, on the condition that Iran complies with all restrictions on the program. Sanctions imposed by Trump cut more than 2 million barrels per day of Iranian oil exports, which would make the …

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Morning Oil Report 09/11/20

Brent crude futures for January climbed 94 cents, or 2.4%, to $40.39 a barrel by 0710 GMT, while U.S. West Texas Intermediate crude for December was at $38.07, up 93 cents, or 2.5%. This increase came after a 4% fall on Friday as a result of continuing uncertainty over the race for the White House. …

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DCE rallies on high steel prices

Iron ore futures rose on higher steel prices, back by better demand and new round of sintering cut in Tangshan. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 3.61% or RMB 28.50 day-on-day to RMB 817.50 /mt on Monday. Following the rally, the steel rebar contract on the …

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Capesize rates bounce from the low on better fixtures

Capesize freight rates rebounded from previous session losses, due to handful of fixtures done on firmer rates. The Capesize 5 time charter average inched up by RMB 244 day-on-day to $14,421 on Friday, as market confidence returned after a flurry of fixtures. The Baltic Dry Index (BDI) then moved up slightly by 0.17% or 2 …

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