*OPEC’s Oil Basket Above $40* The collective prices of OPEC oil grades have pushed above $40 for the first time in four months. This falls in line with the slow-moving bullish sentiment that has been seen over the past couple of months as crude recovered for its lows in April. *US Lifts Some Venezuela …
Category archives: News
Capesize rates rise over miners’ fixing spree
Capesize rates stayed above the $30,000 level due to the recent miners’ fixing spree in moving iron ore cargoes for arrival in China. The Capesize 5 time charter average reflected the firm freight market and spotted a gain of $438 day-on-day to $31, 377 on Thursday. This left the Baltic Dry Index (BDI) to seek …
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Steel & Scrap 03-07-20
Fertilizer Financial Markets Commentary/Curves
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 …
