Category archives: News

Morning Oil Report 3/12/20

Brent crude futures ended up 1.6% last night as the expectation of positive news from the OPEC meeting due today kept the market buoyant, although prices fell overnight. At 0700GMT there was some buying activity which lifted the price to $48.26 per barrel.   EIA week ending 11/27 Crude oil: -0.7M Gasoline: +3.5M Distillates: +3.2M …

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Capesize rates fall on lesser Brazilian shipment

Capesize freight rates continued to decline, after Vale reduced its annual guidance for 2021, stroking market concerns over lesser iron ore shipment. Thus, the Capesize 5 time charter average went down slightly by $10 day-on-day to $12,322 on Wednesday, due to bearish market sentiment. The Baltic Dry Index (BDI) then also dropped slightly by 0.83% or 10 points …

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