Brent crude futures rose 4 cents to $41.76 a barrel while U.S. WTI futures inched up 4 cents to $39.47 a barrel at 0448 GMT. Early trading saw buying interest in HSFO. With a slight increase in Brent, fuel prices have also responded up around $1 on HSFO and $3 on 0.5% above Europe COB. …
Category archives: Fuel Oil
European Close 12/10/20
A bit of a lacklustre start to the week with the November Iron Ore futures moving two dollars off its highs as it enters a corrective phase. Fundamentally the question is can China keep consuming iron ore at this rate, and if so for how long? There has not been an analyst in the market …
Fuel Oil Daily Evening Report
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Ship Shape: FIS Commodity Weekly 12/10/20
Tanker, Tailor, Soldier, Fly People may be forgiven for thinking that the last seven days was a slow news week, as the biggest headline grabber was the two-minute appearance of a fly on the head of US Vice President Mike Pence. This has launched a flurry of activity with Jim Carrey playing the fly …
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Oil Through the Looking Glass 12.10.2020
*Oil and Gasoil Lower on Opening, VLSFO Still in Backwardation on the Front Months* Oil and Gasoil were lower this morning, there was lots of volatility in both markets. The Euro and Sing FoGos remain stable continuing the trend from last week. Front month VLFSO remain in backwardation, with its HSFO counterparts teetering on the edge at around -0.25 to -0.5 spreads for Nov/Dec20. (FIS) *Chevron Restarting Offshore Gulf of Mexico Oil …
Capesize rates correct further on weak physical market
Capesize freight rates were on correction phrases and the paper market was on a selloff due to bearish sentiment. Thus, the Capesize 5 time charter average fell by $2,028 day-on-day to $29,479 on Friday, after aggressive selloff before finding some supports at the lows of the trading day. The Baltic Dry Index (BDI) then dropped …
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Oil and Ore Intraday Morning Technical
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Morning Oil Report 12/10/20
Brent crude fell 32 cents, or 0.8%, to $42.53 a barrel by 0347 GMT and WTI for November was at $40.30 a barrel, down 30 cents, or 0.7%. Sing 0.5% and Rott 0.5% spreads are still in backwardation on the front months, HSFO spreads, however, are just clinging onto negative territory. Hi5s continue to …
Fuel Oil Daily Evening Report
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (KS): +1 …
European close
Golden week is over and for iron ore it means the bulls are back in town. Headlines on Bloomberg noted that combined exports from Port Hedland and Brazil are the highest ever, whilst steel inventories which normally see a 15% to 20% decline in Q3 have seen an increase of 3%. However, an Analyst at …