U.S. West Texas Intermediate (WTI) crude futures fell 36 cents, or 0.8%, to $46.63 a barrel at 0506 GMT, while Brent crude futures fell 40 cents, or 0.8%, to $49.89 a barrel, erasing Monday’s gains. Shale oil production is expected to fall by about 136,000 barrels per day in January to 7.44 million barrels …
Category archives: Fuel Oil
Capesize rates rebound on improving Atlantic market
Capesize freight rates rebounded on improved rates, despite some port closures in China due to bad weather and shipping accident. The Capesize 5 time charter average then went up by $393 day-on-day to $12,282 on Tuesday, after some market talks of raising coal quotas for Chinese importers. Thus, the Baltic Dry Index (BDI) moved up …
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Fuel Oil Daily Evening Report
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Oil Through the Looking Glass 14/12/20
*Singapore Bunker Demand Heads Back Towards 50 Million MT/Year Bunker demand in Singapore may jump to 50 million metric tons for the first time in three years after a 4.6% jump in sales in November from a year earlier and 2.8% increase from October’s figures. Prices for the VLSFO roofed as companies were looking to …
Capesize rates recover despite mixed market sentiments
Capesize freight rates hiked up on better market sentiments as shipping demand improved toward year-end with support of the strong bunker prices. The Capesize 5 time charter average then went up by $938 day-on-day to $11,889 on Friday, albeit with considerably less activity on the FFAs. The Baltic Dry Index (BDI) also moved upward by …
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Morning Oil Report 14/12/20
Brent crude futures for February rose 38 cents, or 0.8%, to $50.35 a barrel by 0454 GMT before ticking up by over 50 cents to $50.61 to 0741, while U.S. West Texas Intermediate crude futures for January were up 32 cents, or 0.7%, at $46.89 a barrel. Iran and its ministers are looking to …
Fuel Oil Daily Evening Report 11/12/20
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Morning Oil Report
Brent was up 11 cents or 0.2% at $50.36 a barrel by 0427 GMT and then gaining an extra 30 cents from then until 0730GMT, after gaining nearly 3% on Thursday. U.S. oil was up 14 cents, or 0.3%, at $46.92 a barrel, having also risen almost 3% in the previous session on the positive …
Capesize rates recover on improving demand despite cyclone concerns
Capesize freight rates rose on better fixtures done on both basins, that lifted the recent bearish market sentiments. Thus, the Capesize 5 time charter average then hiked up by $656 day-on-day to $10,951 on Thursday, amid the recent volatility in the market. The Baltic Dry Index (BDI) also went up by 3.48% or 39 points …
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European Close 10/12/20
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