Oil Morning Report 25/01/2021

Brent crude futures for March fell 8 cents, or 0.1%, to $55.38 a barrel by 0717 GMT, while U.S. West Texas Intermediate crude for March was at $52.26 a barrel, down 1 cent.   EIA week ending 1/15 Crude oil: +4.4M Gasoline: -0.3M Distillates: +0.5M Refiner utilz: 82.5% Impld mogas demand: 8.11 Mbpd   Prices …

Daily Capesize Review 21/1/21

Capesize freight rates dipped over market concerns of cyclone threat and mixed outlooks for the freight market. The Capesize 5 time charter average then dipped by $42 day-on-day to $25,515 on Thursday, after a flat trading session with much market focus on the February contract. The Baltic Dry Index (BDI) also moved higher on improving …

Morning Oil Report 21/1/21

U.S. West Texas Intermediate (WTI) crude futures fell 24 cents, or 0.5%, to $53.07 a barrel at 0500 GMT, following two days of gains on expectations of massive COVID-19 relief spending under new U.S. President Joe Biden. Brent crude futures dropped 22 cents, or 0.4%, to $55.86 a barrel.   U.S. crude oil inventories rose …

Daily Capesize Review 20/1/21

Capesize freight rates continued to rise on firmer physical Atlantic basin, despite thin shipping activities in the market. The Capesize 5 time charter average then went up by $1,409 day-on-day to $25,557 on Wednesday, after a choppy trading session. The Baltic Dry Index (BDI) also moved higher on improving freight rates and hiked up by …