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Category archives: Fuel Oil
Oil Through the Looking Glass 13/10/20
*Crude, Fuel and Gasoil Push in The Morning Window* A morning increase for Crude, Fuel and Gasoil this morning also saw the strengthening of the front FoGos strengthen to print -40.75 for the Euro and -18 for the Sing, with the front crack is valued at -5.75 at 1010BST. (FIS) *BP Says It Returning …
Oil and Ore Intraday Morning Technical 13/10/20
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Capesize rates falls on soft physical market
Capesize freight rates continued to head south on selling pressure on the paper market and thin physical trading market. The Capesize 5 time charter average fell by $2,146 day-on-day to $27,333 on Monday, due to aggressive selloff, but gained some ground as Pilbara port authorities were turning away covid infected crews. The Baltic Dry Index …
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Morning Oil Report 13/10/20
Brent crude futures rose 4 cents to $41.76 a barrel while U.S. WTI futures inched up 4 cents to $39.47 a barrel at 0448 GMT. Early trading saw buying interest in HSFO. With a slight increase in Brent, fuel prices have also responded up around $1 on HSFO and $3 on 0.5% above Europe COB. …
European Close 12/10/20
A bit of a lacklustre start to the week with the November Iron Ore futures moving two dollars off its highs as it enters a corrective phase. Fundamentally the question is can China keep consuming iron ore at this rate, and if so for how long? There has not been an analyst in the market …
Fuel Oil Daily Evening Report
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Ship Shape: FIS Commodity Weekly 12/10/20
Tanker, Tailor, Soldier, Fly People may be forgiven for thinking that the last seven days was a slow news week, as the biggest headline grabber was the two-minute appearance of a fly on the head of US Vice President Mike Pence. This has launched a flurry of activity with Jim Carrey playing the fly …
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Oil Through the Looking Glass 12.10.2020
*Oil and Gasoil Lower on Opening, VLSFO Still in Backwardation on the Front Months* Oil and Gasoil were lower this morning, there was lots of volatility in both markets. The Euro and Sing FoGos remain stable continuing the trend from last week. Front month VLFSO remain in backwardation, with its HSFO counterparts teetering on the edge at around -0.25 to -0.5 spreads for Nov/Dec20. (FIS) *Chevron Restarting Offshore Gulf of Mexico Oil …
Capesize rates correct further on weak physical market
Capesize freight rates were on correction phrases and the paper market was on a selloff due to bearish sentiment. Thus, the Capesize 5 time charter average fell by $2,028 day-on-day to $29,479 on Friday, after aggressive selloff before finding some supports at the lows of the trading day. The Baltic Dry Index (BDI) then dropped …
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