Category archives: News

Oil Through the Looking Glass 13/8/20

*US Demand Rebounds The EIA reported yesterday that US crude, gasoline and distillate stock levels all dropped last week even with an increase in refinery production. This shows us that American demand for crude and oil products is finally looking like it is bouncing back. Refinery utilisation was up 1.4% to 81% of total capacity, …

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Capesize rates getting support from port congestion

Capesize rates firmed on better market sentiments with freight rates getting some support from the port congestion situation in China. Thus, the Capesize 5 time charter average inched up by $135 day-on-day to $19,339 on Wednesday, with a late rally in Sep and Q4 contracts that added to bullish market tone. Thus, the Baltic Dry …

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DCE bounces back on better buying interests

Iron ore futures rebounded on Thursday over higher buying interests for limited mainstream Australian fines. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange then rose slightly by 0.85% or RMB 7.00 day-on-day to RMB 826.50 per tonne on Thursday. On the contrary, the Shanghai Futures Exchange stayed rather flattish before dipping …

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Morning Oil Report 13/8/20

Morning all. Brent futures were down 8 cents at $45.35/b at 7:26 GMT, while WTI futures were down by 4 cents at $42.62.   US Energy Information Administration data released on August 12 showed that US commercial crude inventories fell 4.51 million barrels to 513.08 million barrels for the week ended August 7 and narrowed …

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