Category archives: Fuel Oil

Another short trading week for Capesize

It was another short trading week for the Capesize market in view of the South Korean public holidays. Thus, the Capesize 5 time charter average slipped down slightly by $16 day-on-day to $19,900 on Monday, as the paper traded at very narrow range with thin volumes. Despite the flattish Capesize market, the Baltic Dry Index …

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Morning Oil Report 18/8/20

Good morning all. Brent futures were down 22 cents, or 0.5%, at $45.15 a barrel by 3:22 am GMT, while WTI was down 23 cents, or 0.5%, at $42.66 a barrel.   Oil prices moved higher overnight on strong support from ramped-up China crude purchases, a faster-than-expected US economic recovery and liquidity injections from China’s …

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Oil Through the Looking Glass 17/8/20

*US – China Trade Deal Review Postponed There is no new date for the commencement of the discussions between China and the United States over their trade disagreements after the review of phase one was put on hold. This delay will allow China to purchase more US exports before they conduct their review of the …

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Capesize trades lower on market inactivity

Capesize rates ended lower in the short trading week due to public holidays in Singapore and in Greece. Most of the market participants were waiting for clearer market direction amid the mixed market outlook and thin liquidity. Nevertheless, the Baltic Dry Index (BDI) continued its upward movement with small gains of 1.14% or 18 points …

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Morning Oil Report 17/8/20

Good morning all. Brent futures rose 30 cents, or 0.7%, to $45.10/b by 4:10 am GMT, while futures were up 34 cents, or 0.8%, to $42.35 a barrel.   A delay in the meeting between US and China, which was to occur over the weekend, to review its trade agreement did not dampen investors’ sentiment …

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Ship Shape – FIS Commodity Weekly 14/8/20

The Quiet Before the Storm   As thunder and lightning rages around the British Isles, you can’t help but draw a parallel with global markets. As we come towards the end of summer, having had what little respite we have been allowed with lockdown measures, the low activity and pause for many markets may now …

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Morning Oil Report 14/8/20

Brent futures were up 14 cents/b, or 0.3%, at $45.10/b by 5:50 am GMT, while WTI futures were up 11 cents/b, or 0.3%, at $42.35/b.   Prices have been bolstered this week by EIA data released on August 12 reporting a 4.51 million-barrel draw in US commercial crude inventories, exceeding market expectations for the third …

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