Upside price action is slowing down on the offshore futures in iron ore. The daily candlesticks are decreasing in size warning that momentum is slowing based on price . However, the trend remains bullish with the evening session trading up to USD 121.15. Steel production remains strong whilst exports are down 6 million tonnes on …
Category archives: Fuel Oil
Fuel Oil Daily Evening Report
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FIS CASTAWAY – EPISODE 32
Join this week’s Election Special on Castaway as the team discuss the implications of a Biden Presidency, a Vaccine, and more on our commodity markets. Website https://freightinvestorservices.com/blog/fis-castaway-eps-32-unprecedented-coverage-in-unprecedented-times/ Spotify https://open.spotify.com/episode/0Mr0kLung0jCaKA6bthcPN?si=3kIVEtI5RS-R54fQjPDw3Q And Itunes https://podcasts.apple.com/gb/podcast/fis-castaway/id1507094242#episodeGuid=239ed13a-c739-ef73-b126-1ba2480ae67d Disclaimer: This podcast is a marketing communication and is not based upon detailed analysis by Freight Investor (FIS) …
Capesize rates take a breather from recent gains
Capesize freight rates suffered a dip as the bullish momentum flatten out with fewer fixtures being done at higher rates. The Capesize 5 time charter average dipped by RMB 67 day-on-day to $14,781 on Tuesday, as the market lost steam with concerns on the muted Atlantic basin. The Baltic Dry Index (BDI) then moved down …
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Morning Oil Report
Brent crude futures were up 107 cents, or 2.43% to $44.67 a barrel at 0738 GMT, while U.S. West Texas Intermediate (WTI) crude futures also rose 48 cents, or 1.2%, to $41.84 a barrel at 0455GMT. Both benchmarks gained nearly 3% on Tuesday. BP and Orsted have collaborated on a joint project to look at …
European Close
The Dalian Iron ore had given up its late gains overnight and closed unchanged on the day this morning. The Doji star had indicated indecision in the market and warned we could potentially see some form of market pullback in the evening session. Price has held resulting in the offshore contract moving 1 dollar higher …
Fuel Oil Daily Evening Report
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Oil Through the Looking Glass 10/11/20
*Vitol CEO Sees Oil Prices Heading Towards $50 A Barrel* Russell Hardy, CEO of Vitol has announced this morning that he believes oil prices will hover around the $50 per barrel mark into the new year and over the next few months as inventories start to report draws which he sees accelerating into 2021. (Reuters) …
Oil and Ore Intraday Morning Technical 10/11/20
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Capesize rates rise on global market optimism
Capesize freight rates continued to rise due to market optimism over Covid-19 vaccines that improve shipping and oil demand. The Capesize 5 time charter average hiked up by RMB 427 day-on-day to $14,848 on Monday, as market sentiment improved. The Baltic Dry Index (BDI) also moved up by 0.92% or 11 points to 1,207 readings, …
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