Capesize rates dip on short trading week

Capesize freight rates dropped slightly on thin physical activities, amid a short trading week due to Brazilian public holiday. The Capesize 5 time charter average then dipped by $150 day-on-day to $16,102 on Monday, reflecting a lacklustre cape paper start to the week. The Baltic Dry Index (BDI) then dropped slightly by 0.95% or 13 …

Oil Through the Looking Glass 8/9/20

*US Shale Producers’ Race for Federal Permits ahead of the Election* Oil producers in the US are stockpiling drilling permits in a bid to prepare for life under a democratic government who have pledged to clamp-down on the controversial method of drilling for oil. Biden currently leads Trump in analysts’ polls by several points according …

Iron Ore Offshore Intraday Morning Technical

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Fuel Oil Daily Evening Report 7/9/20

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Capesize rates slide on lower physical market

Capesize freight rates slipped on the lower physical market and as more buyers were trying to close short positions for profit-taking. The Capesize 5 time charter average then dropped by $496 day-on-day to $16,252 on Friday, as the physical market continued to lose values. The Baltic Dry Index (BDI) then dropped further by 2.37% or …

Oil and Ore Intraday Morning Technical 7/9/20

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Oil Through the Looking Glass 7/9/20

*Power Outage After Hurricane Laura Prevents Return to Normal Operations* An ongoing power outage due to the aftermath of the Hurricane that tore through the Gulf coast has led to disruptions in repairs to a few US oil platforms, with the Westbury site being one. The US Energy Department said that the site sustained considerable …

Morning Oil Note 7/9/20

Good morning all. Brent futures fell -1.2% to $42.13 a barrel to lowest levels since July 30 whereas WTI futures were down -1.51% to $39.17 per barrel, lowest since July 10. As the US enjoys Labor Day, parts of the states are preparing to welcome record heatwaves with California grid operators issuing a “stage 2” …