Category archives: News
Morning Oil Note 3/7/20
Good morning all. Brent crude futures were down 35 cents, or 0.8%, at $42.79 a barrel as of 0633 GMT, and U.S. WTI crude futures fell 35 cents, or 0.9%, to $40.30 a barrel. Both benchmarks rose more than 2% yesterday, buoyed by stronger-than-expected U.S. jobs data and a fall in U.S. crude inventories. For …
DCE ends the week on flat note
Chinese futures ended the week in positive despite mixed market outlook regarding the softening steel demand. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, rose slightly by RMB 5.00 or 0.67% day-on-day at RMB 746.50 per tonne on Friday. The steel rebar contract on the Shanghai Futures Exchange …
Supramax & Handysize FFA Daily Report
London Iron Ore Market Report
Capesize & Panamax FFA Daily Report
FIS LONDON COKING COAL MARKET REPORT
Fuel Oil Daily Evening Report
Capesize maintains over $30,000 level despite softening demand
Capesize rates hovered above the $30,000 level, despite softening freight rates recorded in both Pacific and Atlantic markets. This weakness was reflected in the paper market, which the Capesize 5 time charter average saw a slight gain of $62 day-on-day to $30, 939 on Wednesday, from a weak afternoon session. The Baltic Dry Index (BDI) …
Continue reading “Capesize maintains over $30,000 level despite softening demand”
Oil Through the Looking Glass 2/7/20
*OPEC Output Lowest Since 1991* OPEC after the pandemic hit has been desperately trying to support prices with supply cuts. The effect of their latest agreement will cut output to levels not seen since 1991. This has been delivered through a combination of extra cuts from Saudi Arabia and better compliance from other slacking agreement …