Category archives: News

Oil Through the Looking Glass 19/8/20

*US 0.5% Under Pressure American low sulphur fuel oil is under pressure as the retail and exports markets continue to remain poor, leaving few places to send 0.5% supplies. The drop in crude prices had previously pulled down prices, yet rising Brent prices again have not pulled up 0.5% alongside it. Brent has moved up …

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Capesize dips despite fixtures uptick

Capesize rates slipped on low volumes despite a flurry of physical fixture done over the key Brazil to China route. Thus, the Capesize 5 time charter average went down by $207 day-on-day to $19,693 on Tuesday, after the paper market failed to move into positive territory from increase of miner’s fixtures. Then, the Baltic Dry …

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DCE continues to rise ahead of peak demand period

Iron ore futures rose for the third consecutive days since start of the week due to robust Chinese steel demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange hiked up by 0.88% or RMB 7.50 day-on-day to RMB 857 per tonne on Wednesday. However, the steel rebar contract on the …

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Ferts in Focus 19/8/20

India’s RCF fares better than expectations The past week saw volume and prices confirmed into India’s most recent urea purchasing tender, with 958kmt of awards accepted at levels of $289/t cfr WC and $290.50 cfr EC. The volume was higher than most were expecting, with the Chinese participating in large volume (around 400kmt estimated to …

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Morning Oil Report 19/8/20

Brent futures fell 33 cents, or 0.7%, to $45.13 a barrel by 4:18 am GMT, while West Texas Intermediate futures were down 21 cents, or 0.5%, at $42.68 a barrel.   The continued spread of COVID-19 worldwide remains the key drag on the short-term demand outlook. Global COVID-19 infections exceeded 22 million case counts while …

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