Category archives: Fuel Oil

Daily Capesize Review 15/1/21

Capesize freight rates softened by mid-January, despite having the strongest opening at the start of the year as opposed to historical norm of weak seasonality. The Capesize 5 time charter average then dropped for the third consecutive days by $990 day-on-day to $23,989 on Friday, despite some decent gains made in the prompt contracts. The …

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Morning Oil Report 18/1/21

Brent crude fell 30 cents, or 0.5%, to $54.79 a barrel by 0622 GMT, after dropping 2.3% on Friday. U.S. oil was down by 21 cents, or 0.4%, at $52.15 a barrel, having declined 2.3% in the previous trading session. “The Relative Strength Indexes (RSI’s) on both contracts were in overbought territory, indicating a correction …

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Morning Oil Report 15/1/21

Brent was down 46 cents, or 0.8%, at $55.96 by 0544 GMT, after gaining 0.6% on Thursday before falling to $55.56 at around 0600GMT. U.S. West Texas Intermediate crude was 29 cents, or 0.5%, lower at $53.28 a barrel, having risen more than 1% the previous session. Global analysts see oil prices gaining over the …

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Daily Capesize review 13/1/21

Capesize freight rates inched higher, despite correction in the paper market and cooling off in the physical market. The Capesize 5 time charter average then rose slightly by $68 day-on-day to $26,489 on Wednesday, despite a selloff in the paper market. The Baltic Dry Index (BDI) managed to rise slightly by 0.38% or 7 points …

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Morning Oil Report 14/1/21

Brent crude oil futures fell 18 cents, or 0.3%, to $55.88 a barrel by 0425 GMT, while U.S. West Texas Intermediate (WTI) slipped by 11 cents, or 0.2%, to $52.80 a barrel.   EIA week ending 1/8 Crude oil: -3.2M Gasoline: +4.4M Distillates: +4.8M Refiner utilz: 82.0% Impld mogas demand: 7.53 Mbpd   Robust Chinese …

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