*Rising US Virus Cases Dampening Sentiment* The US has reported significantly elevated numbers of new virus cases. Some 16 states are reporting record increases in new virus cases at the start of July. In California, hospitalisations have risen 50% over the past two weeks, with infections recorded infections rising more than This is limiting what would …
Category archives: Fuel Oil
Morning Oil Note 7/7/20
Good morning all. Brent crude futures declined by 19 cents, or 0.4%, to $42.91, after hitting an intraday high of $43.19. U.S. WTI crude futures fell 17 cents, or 0.4%, to $40.46 a barrel at 0340 GMT, after earlier rising to as high as $40.79. In the US, some 16 states are reporting record increases …
Fuel Oil Daily Evening Report
Capesize’s bull run continues, driven by tight tonnage and weather delays
Capesize market continued its bullish run with rates hovering above the $30,000 level in view of the tight tonnage supply in both basins. Thus, the Capesize 5 time charter average rose by $1,305 day-on-day to $32,682 on Friday, while the Baltic Dry Index (BDI) reached new high at 1,894 points, up 3.89% day-on-day. Crewing issue …
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Morning Oil Note 6/7/20
Oil futures were mixed on Monday morning, with Brent buoyed by tighter supplies to 18 cents (0.4%) at $42.98 a barrel at 2:52 am GMT, while concerns about rising COVID-19 cases in the US dampened WTI futures by 23 cents (0.6%) to $40.42 from its last settlement on Thursday. Newly reported coronavirus cases and mobility …
Oil Through the Looking Glass 3/7/20
*OPEC’s Oil Basket Above $40* The collective prices of OPEC oil grades have pushed above $40 for the first time in four months. This falls in line with the slow-moving bullish sentiment that has been seen over the past couple of months as crude recovered for its lows in April. *US Lifts Some Venezuela …
Oil and Ore Intraday Morning Technical
Capesize rates rise over miners’ fixing spree
Capesize rates stayed above the $30,000 level due to the recent miners’ fixing spree in moving iron ore cargoes for arrival in China. The Capesize 5 time charter average reflected the firm freight market and spotted a gain of $438 day-on-day to $31, 377 on Thursday. This left the Baltic Dry Index (BDI) to seek …
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Morning Oil Note 3/7/20
Good morning all. Brent crude futures were down 35 cents, or 0.8%, at $42.79 a barrel as of 0633 GMT, and U.S. WTI crude futures fell 35 cents, or 0.9%, to $40.30 a barrel. Both benchmarks rose more than 2% yesterday, buoyed by stronger-than-expected U.S. jobs data and a fall in U.S. crude inventories. For …
