Russia goes full circle The global oil plunge started with increased output as Saudi Arabia and Russia locked horns over production cuts. Four months down the line and multiple cuts Russia have gone full circle with exports of its Urals crude oil grade set to drop significantly next month. Asian Buying interest failing countered …
Category archives: Fuel Oil
Brent August 20 Morning Technical Comment – 240 Min
Capesize rates slow down amid Chinese holidays
Capesize rates moved slower but gradually toward the $30,000 mark, due to the absence of Chinese trade participants during the Dragon Boat Festival holidays. Therefore, the Capesize 5 time charter average rose by $738 day-on-day to $29,395 on Thursday, despite some market concerns about the longevity of the C3 contracts. Strengthened by Capesize market, the …
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FIS Fuel Oil Morning Report 26/06/2020
Good morning and happy Friday. Firstly a massive congratulations to the reds for winning their first title for 30 years! Oil prices rose in early trade on Friday, extending gains from the previous day on optimism about recovering fuel demand worldwide, despite surges in coronavirus infections in some U.S. states and indications of a revival …
Did Someone Mention Increasing Demand?
It is the panacea for all markets, the biggest factor that could help us recover some sense of normality, the only thing that will bring a smile to suppliers across the world. It is, of course, increasing demand. The virus has caused huge disruption and left markets unable to react quickly enough to counteract …
Fuel Oil Daily Evening Report
FIS Technical – Brent August Daily
Oil Through The Looking Glass
*Crude Back in Trouble* Oil prices have continued their movements downwards as the markets digests the news of another US stocks build reported yesterday afternoon, as well as a resurgent virus in the United States. New infections are at new daily records in Florida, Texas and California. According to the EIA U.S. crude inventories rose …
Tanker News Update 25/6
Uncertainty on the high seas One would say that the forecast is looking patchy with low winds not moving many sails. The general outlook is a market softening, as a flotilla of vessels are coming off the back of crude floating storage that earned a healthy profit. This ultimately has led to an …
FIS Fuel Oil Morning Report 25/06/2020
Good morning all. Brent crude futures fell 31 cents, or 0.8%, to $40.00 per barrel after falling $2.32 on Wednesday. A day earlier, the benchmark contract hit its highest price since early March, just before pandemic lockdowns and a Saudi-Russian price war slammed markets. U.S. WTI crude futures fell 26 cents, or 0.7%, to $37.75 …