Brent futures tumbled 35 cents, or 0.8%, to $43.97 a barrel by 5:41 am GMT, and WTI futures plunged 39 cents, or 0.9%, to $41.53. Front-month September ICE Brent futures briefly touched a four-month high above $44.80/b in the US trading sessions as investor optimism was buoyed by promising results from multiple COVID-19 vaccine trials …
Category archives: Fuel Oil
Fuel Oil Daily Evening Report
FIS Technical – Oil and Ore
Oil and Ore Intraday Morning Technical
Capesize rates dip on subdued markets
Capesize rates reversed into losses after sluggish start to the week with little shipping activities. Thus, the Capesize 5 time charter average dropped by $616 day-on-day to $24,469 on Monday, due to the subdued Pacific and Atlantic market. The Baltic Dry Index (BDI) then followed the dip and slipped by 1.87% day-on-day to 1,678 readings …
DCE rebounds on Chinese fiscal stimulus
Iron ore futures opened low and closed on high on Tuesday, following market optimism on China’s demand despite rising supply from miners. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange rebounded from yesterday losses and gained by 2.75% or RMB 22.50 day-on-day to RMB 841 a tonne on July 21. Joining …
Oil Through the Looking Glass 21/7/20
Hedge Funds Pretty Flat on Oil Money managers seem to be staying clear of any new significant purchases of oil, or perhaps they have all taken a synchronised holiday, as purchases dropped to and equivalent 24 million bbls of futures and options, up slightly from 21 million the previous week, but still not really making …
FIS Fuel Oil Morning Report 21/07/2020
At 2:27 am GMT, Brent futures were up 7 cents/b, or 0.16%, at $43.35/b, while WTI was up by 6 cents/b, or 0.15%, at $40.87/b, and it has continued to rise into the European trading hours. Prices were offered support by positive news on the development of vaccines as pharmaceuticals and medical institutions are …
Fuel Oil Daily Evening Report
Crude nervy on virus threat to US gasoline demand
Lingering concerns over rising Coronavirus infections worldwide and its impact on demand continued to weigh on crude market sentiment and limit any upside. More than 14.5 million people have been infected by the novel Coronavirus globally and more than 604,000 have died of COVID-19, the disease caused by the pathogen, according to a Reuters …
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