Category archives: Fuel Oil

Daily Capesize Review 26/11/21

Capesize freight rates continued to rise, despite market scares of the new covid variant spread and expectation of adverse weather that affected shipping activities. The Capesize 5 time charter average, then rose by $1,076 day-on-day to $32,393 on Friday, amid a choppy market. The Baltic Dry Index (BDI) then rose by $89, up 3.32% day-on-day, …

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Oil and Products Report 29/11/21

Good morning, the oil market ended last week on a negative note. ICE Brent settled more than 11.5% lower on Friday, closing at its lowest level since September. The front-month contract plunged below the 100-day moving average and all the way towards the 200-day moving average. Concern over the latest Covid variant and the resulting …

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ENGINE: Europe & Africa Bunker Fuel Market Update 26/11/21

Bunker prices in Europe and Africa have slumped with Brent amid fresh Covid-19 concerns, and bunker deliveries have been delayed by unfavourable weather conditions in Mediterranean ports.   Changes on the day to 08.00 GMT today: VLSFO prices down in Durban ($23/mt), Gibraltar ($20/mt) and Rotterdam ($12/mt) LSMGO prices down in Durban ($37/mt), Gibraltar ($23/mt) …

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ENGINE: East of Suez Bunker Fuel Market Update 26/11/21

East of Suez bunker prices have come off sharply with Brent as the discovery of a new Covid-19 variant has triggered renewed oil demand concerns.   Changes on the day to 16.00 SGT (08.00 GMT) VLSFO prices down in Zhoushan ($22/mt), Singapore and Fujairah ($21/mt) LSMGO prices down in Zhoushan ($27/mt), Fujairah ($26/mt) and Singapore …

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Oil and Products Morning Report 26/11/21

Good Morning. Crude oil futures plunged as investors were spooked by reports of a new COVID-19 variant from South Africa that appeared to evade immune responses, sparking a sharp sell-off in the broader financial markets. At 10:05 am Singapore time (0205 GMT), the ICE January Brent futures contract was down $1.13/b (1.37%) from the previous close …

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