Category archives: Fuel Oil

Capesize rates slip into losses on mixed market

Capesize freight rates reversed into losses after recent gains, due to mixed market directions in both basins. The Capesize 5 time charter average went down by $840 day-on-day to $11,766 on Monday, due to softening freight rates. The Baltic Dry Index (BDI) then dropped by 2.92% or 35 points to 1,162 readings, due to the …

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Morning Oil Report 8/12/20

Brent crude futures fell 40 cents, or 0.8%, to $48.39 a barrel at 0455 GMT with Brent continuing to fall from 0600GMT down to lows of $48.09 after then pushing to $48.65 at 0830GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 35 cents or 0.8%, to $45.41 a barrel. Both benchmark contracts lost …

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Oil and Ore Intraday Morning Technical 4/12/20

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Capesize rates rebound on better Pacific market

Capesize freight rates rebounded from losses, on firmer rates from the Pacific, though the Atlantic rates were still struggling on thin cargo list. The Capesize 5 time charter average then went up by $332 day-on-day to $12,606 on Friday, amid the mixed market. The Baltic Dry Index (BDI) also hiked up slightly by 0.67% or …

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Morning Oil Report 7/12/20

Brent crude oil futures were down 20 cents, or 0.4%, at $49.05 a barrel by 0401 GMT, while West Texas Intermediate oil futures fell 20 cents, or 0.4%, to $46.06 a barrel. Both benchmarks gained for a fifth consecutive week last week. Oil seems to have stalled this morning as fresh lockdowns in the world’s largest …

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Morning Oil Report 4/12/20

Crude rallied 50 cent this morning after large buying action in the early morning pushing Brent up to the $49.73 level at 0800GMT.   OPEC+ production finally seems to have been settled in a compromised deal on cuts that will see a gradual and deliberate increase in oil production quotas going into 2021. Brent settled …

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