A Room with a Technical View 15/08/22

Capesize September Futures – We remain in a bearish trending environment, with the futures below all key moving averages supported by the RSI below 50. The futures have traded below the USD 10,950 low, creating a positive divergence on the intraday RSI, not a buy signal. It does warn that we have the potential to …

U.S. Pushes For Restraint On Fuel Exports 29/08/22

President Joe Biden’s administration is pressing US refiners to rebuild inventories of gasoline and diesel as the production-disrupting Atlantic hurricane season heats up, rather than increasing record-high volumes of product exports.   US energy secretary Jennifer Granholm, in a letter sent to refiners on 18 August, said historically low inventories of gasoline and diesel posed …