Category archives: Fuel Oil
Oil Through the Looking Glass 30/7/20
*Biggest US Crude Draw Since 2019 The EIA reported a 10.6 million bbl drop in crude stocks, however the total stocks were still 17% above the 5-year seasonal average. Crude oil: -10.6M Gasoline: +0.7M Distillates: +0.5M Refinery utilisation: 79.5% *BP Fined for Shetland Oil Spill BP has been fined £7,000 after spilling 95 tonnes of …
Capesize rates rebound on firm Pacific market
Capesize rates jumped on better physical market with both basins seemed significant gains despite an upcoming public holiday in Singapore. The Capesize 5 time charter average hiked up by $1,197 day-on-day to $17,721 on Wednesday, with Aug and Sep contracts traded on highs of $19,250 and $20,750 respectively. With improvement in Capesize, the Baltic Dry …
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Oil and Ore Intraday Morning Technical
Fuel Oil Daily Evening Report
Oil and Ore Intraday Morning Technical
Capesize rates brace for sharp rebound amid new Covid-19 wave
It was a choppy day for the Capesize rates as some market participants were concerned over a new wave of Covid-19 that might delay vessel schedules. However, the paper market is expected to make a sharp rebound with front end futures nearly up by $2,000 on Wednesday, following by increase of $1,500 on Tuesday, especially …
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Fuel Oil Daily Evening Report
Oil Through the Looking Glass 28/7/20
*Brace for the Second Wave As the British Prime Minister, Boris Johnson, warns the country to start to prepare for a second wave of the virus after implementing quarantine measures on visitors from mainland Spain, so too the oil industry is warning of yet more disruption to come. Top US and European oil companies are …
Capesize rates correct further on bearish outlook
Capesize rates resumed its correction phrases for the short week with Singapore on public holiday at Friday. The Capesize 5 time charter average then dropped further by $270 day-on-day to $17,014 on Monday, after a sluggish start of the short trading week. Likewise, the Baltic Dry Index (BDI) slipped 1.82% day-on-day to 1,293 readings on …
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