Category archives: News

Oil Through the Looking Glass 7/8/20

*Surge in European Cases Dampens Sentiment An increase in cases across the continent is threatening the recovery of Europe, as a second wave gains momentum. France, Spain and Germany have all recorded jump sin the number of infected persons, with Spain being the worst hit as cases climbed to 1772 in the last 24 hours. …

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Another zenith for iron ore prices

A total of 1.839 million mt of iron ore was exchanged hands for the week ended Aug 7, slightly lesser than last week, with Australian fines accounting most of the trades. BHP’s Yandi fines garnered most of the market share at 25.55%, followed by Pilbara Blend Fines (PBF) at 22.25% and Brazilian Blend fines coming …

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Capesize rate inches up on mixed outlook

Capesize rate gained on mixed market outlook amid robust iron ore demand and oversupplied vessels market. The Capesize 5 time charter average gained slightly by $51 day-on-day to $20,434 on Thursday, after a rebound in market from better Pacific market. Thus, the Baltic Dry Index (BDI) also went up higher by 1.69% day-on-day to 1,500 …

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DCE loses steam after week-long rally

Iron ore futures came under pressure on Friday and suffered a correction, ending a week of bullish gains. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange dropped by 1.05% or RMB 9.50 day-on-day to RMB 896 per tonne on Friday. As such, the Shanghai Futures Exchange also dropped slightly by 0.60% …

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Morning Oil Note 7/8/20

Good morning all. Brent crude fell 6 cents, or 0.1%, to $45.03 at 2:46 am GMT, while WTI crude futures slipped 2 cents to $41.93 a barrel. The resurgence of coronavirus infections remains the main uncertainty in the oil market, as that will determine how fast fuel demand rebounds. Tallies show infections in the United States are …

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