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Category archives: Fuel Oil
Capesize rates drop despite Q4 optimism
Capesize freight rates dipped despite some improvement in the supply glut and better market expectation for Q4 shipping demand. Thus, the Capesize 5 time charter average dropped by $407 day-on-day to $15,075 on Thursday, due to slow market. The Baltic Dry Index (BDI) then fell by 2.08% or 27 points day-on-day to 1,269 readings on …
Oil and Ore Intraday Morning Technical 11/9/20
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Morning Oil Report 11/9/20
Good morning. Brent fell 0.5% or 18 cents to settle at $39.88 a barrel whereas WTI fell 0.4% or 14 cents to $37.16 a barrel. Both benchmarks are down 6.5% for the week with hopes of a quick price recovery, dwindling. The big news coming from Thursday was that the EIA reports showed that …
Fuel Oil Daily Evening Report 10/9/20
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The EW Fuel Oil Focus – Market Report
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Oil Through the Looking Glass 10/9/20
*Brent Oil Benchmark Dips but Stays Over $40/bbl* Oil prices dipped slightly off the back of rising stocks and falling demand as reported by the EIA, yet Brent maintained its $40 per barrel mark. The US stockpiles rose by 3 million barrels according to the American Petroleum institute (API) as the EIA reduced demand outlook …
Capesize rates under pressure from supply glut
Capesize freight rates moved on a downward trend due to an oversupplied market amid thin shipping demand. The Capesize 5 time charter average then slumped by $410 day-on-day to $15,482 on Wednesday, due to thin physical fixtures. Likewise, the Baltic Dry Index (BDI) also dropped further by 2.41% or 32 points day-on-day to 1,296 readings. …
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Oil and Ore Intraday Morning Technical
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Morning Oil Report 10/9/20
Good morning all. Brent futures dropped 17 cents or 0.42% overnight to $40.62 after regaining 2.5% throughout Wednesday. WTI had similar losses of 24 cents or 0.63% at 0417GMT. The oil market is under pressure from rising supply and suppressed demand with the EIA inventory data due on Thursday, a day later than usual …