*Crude Holds Above $42* Oil this morning is holding onto recent gains, staying above the $42 mark on Brent. Brent crude’s prompt spread was in backwardation for a third day, a bullish market structure that indicates tightening supply. It flipped from contango on Thursday for the first time since March. Meanwhile in the US oil …
Category archives: News
FIS Fuel Oil Morning Report 22/06/2020
Brent crude fell 10 cents, or 0.2%, to $42.04 a barrel by 0655 GMT, while U.S. crude was at $39.72 a barrel, down 11 cents, or 0.3%. Both contracts rose about 9% last week and Brent crude futures have flipped into backwardation, so that oil for immediate delivery costs more than that to be provided …
Fuel Oil Daily Evening Report
Supramax & Handysize FFA Daily Report
Capesize & Panamax FFA Daily Report
Positive Outlook from U.S. Steelmakers
A traumatic start to the year for U.S. steel makers may now be behind them after some of the largest producers offered positive outlooks for the rest of the year. Non-residential construction in the U.S has remained resilient compared to the consumer sector in recent months. With it looking increasingly like the worst of …
Iron ore holds at $100 as Brazil supply fears ease
Iron ore futures held at around $100 on Friday as supply concerns eased. Latest data showed that Brazil’s iron ore exports increased by 1.4 million tonnes during the first nine days of Jun to 1.64 million tonnes per day. Meanwhile, Vale is gradually resuming operations at its Itabira complex after receiving the green …
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China Continues to Purchase U.S. Agricultural Products
Following talks in Hawaii this week China intends to increase purchasing of U.S agricultural products as it tries to meet its obligations to the phase one trade deal. The world’s largest soybean importer is playing catch up after falling behind due to the COVID-19 pandemic. An unnamed source told Bloomberg news that the Chinese …
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FIS Weekly Market comments – 19 Jun 2020
PBF and Mac fines, most popular among buyers Australian medium grade fines remained the firm favorite for Chinese buyers for the week ended 19 Jun 2020. Among the total purchases of over 1.9 million mt, the Pilbara Blend fines (PBF) and Mac fines remained at the top spots accounting 17% respectively, followed by FMG SSF …
Capesize breaks the $20,000 level
Capesize rates reached another new height again and broke the $20,000 level amid the freight rally. Thus, the Capesize 5 time charter average increased by $6,244 day-on-day to $25,280 on Thursday, another year-high rates, even after a selloff by trade participants for profit-taking. Supported by robust Capesize market, the Baltic Dry Index (BDI) achieved the …