Category archives: Fuel Oil

Oil Through the Looking Glass 02/11/20

*Russia Respond to Lockdowns by Assessing OPEC Cuts* Russia are looking to push forward with the review of OPEC oil cut relaxations that are due on 1st January 2021 as prices look to not bounce back to pre-Covid levels anytime soon. The cuts made to output imposed by OPEC are due to be relaxed in …

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Iron Ore Offshore Nov 20 Morning Technical Comment – 240 Min Chart (rolling contract)

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Capesize rates to bottom out from slump

Capesize freight rates dipped slightly on limited shipping activities and market expectation that it might bottom out after the recent slump.   Thus, the Capesize 5 time charter average then fell modestly by RMB 231 day-on-day to $15,550 on Friday, as the physical market seemed to find a floor, while the paper market braced for …

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Morning Oil Report 02/11/20

Brent crude futures for January dropped $1.34, or 3.5%, to $36.60 a barrel by 0410 GMT, while U.S. WTI futures fell $1.41, or 3.9%, to $34.38. Brent ICE futures lost just under 10% for the week as the market looks to try to absorb increasing supply gluts.   Without the risk of sounding repetitive, the …

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Morning Oil Report 30/10/20

Brent crude slipped for a third day and was down 51 cents, 1.4%, at $37.14 a barrel by 0628 GMT after touching a five-month low in the previous session. December Brent contract expires on Friday. U.S. West Texas Intermediate (WTI) crude declined 48 cents, or 1.3%, to $35.69 a barrel after dipping to its lowest …

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Capesize rates fall on further market selloff

Capesize freight rates fell further on aggressive selloff in the market, due to softening paper and physical market. The Capesize 5 time charter average then dropped by $2,100 day-on-day to $15,781 on Thursday, after a bloodbath in the paper market. The Baltic Dry Index (BDI) also followed the downtrend and dropped by 6.29% or 87 …

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Oil Through the Looking Glass 29/10/20

*Asian Buyers Boost Physical Oil as Pandemic Punishes Futures* Traders have a view that China and India have bolstered demand for physical oil even though prices are being hammered by oversupply and demand problems that are sending shockwaves through the oil market, with lows on Thursday touching $36.64 before bouncing back up at midafternoon.   Chinese …

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