*API FYI, but WBU EIA* The American Petroleum Institute (API) has predicted that crude stocks rose by 1.7 mil bbls last week. This isn’t exactly the greatest news on the demand front, something which is sorely needed by producers to help drive up prices after such historic lows in April. That being said, they have …
Category archives: News
DCE rebounds from corrections
Chinese futures rebounded from recent corrections after a late rally seen in the afternoon session, prompted by a flurry of trades done at higher levels. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, jumped by 2.05% day-on-day to RMB 771 per tonne on Wednesday. The steel rebar …
FIS Fuel Oil Morning Report 24/06/2020
Good morning all. Brent crude was down 29 cents, or 0.7%, at $42.34 a barrel by 0335 GMT, while U.S. WTI crude futures fell 35 cents, or 0.9%, to $40.02 a barrel. The market has continued to come off recent highs after the API predicted a build of 1.7 million bbls for last week. It …
Capesize rallies on high iron ore prices
Capesize rates rallied on bullish market sentiments after strong gains seen in both the Pacific and Atlantic basins. The Capesize 5 time charter average surged by $1,308 day-on-day to $26,672 on Tuesday, despite the lagging Q4 and Cal 21 contracts in the future market. Buoyed by the Capesize rally, the Baltic Dry Index (BDI) continued …
FIS LONDON COKING COAL MARKET REPORT
Supramax & Handysize FFA Daily Report
Capesize & Panamax FFA Daily Report
London Iron Ore Market Report
Fuel Oil Daily Evening Report
Capesize lead the way
Another strong day in the dry freight market with the Capesize index up 5.16% due to Chinese iron ore restocking and increased infrastructure spending. The index out outperformed the Baltic Dry Index which rose 3.79% after positive performances from the Panamax index at + 1.65% and Supramax Index + 0.77%. The continued upside moves …