Uncertainty on the high seas One would say that the forecast is looking patchy with low winds not moving many sails. The general outlook is a market softening, as a flotilla of vessels are coming off the back of crude floating storage that earned a healthy profit. This ultimately has led to an …
Category archives: Fuel Oil
FIS Fuel Oil Morning Report 25/06/2020
Good morning all. Brent crude futures fell 31 cents, or 0.8%, to $40.00 per barrel after falling $2.32 on Wednesday. A day earlier, the benchmark contract hit its highest price since early March, just before pandemic lockdowns and a Saudi-Russian price war slammed markets. U.S. WTI crude futures fell 26 cents, or 0.7%, to $37.75 …
Capesize sets sight on $30,000 level
Capesize rates seemed to set its sight for the $30,000 level in view of high iron ore prices that lifted shipping demand for moving iron ores. The Capesize 5 time charter average hiked up further by $1,985 day-on-day to $28,657 on Wednesday, despite aggressive sell off at the Q3 contracts. Due to Capesize rally, the …
FIS CASTAWAY – EPISODE 13
This week the team talk $6 million dollar bail, Cape splits, and EU travel bans; all this is alongside our usual in depth analysis of the supply and demand factors affecting commodity market prices. Available now on the FIS website (www.freightinvestorservices.com/media ) Spotify https://open.spotify.com/show/7yMLsm5s8tLtrCQr7bG8wD?si=FW6Rvj9HRjClAx3vRjq8iw And Apple https://podcasts.apple.com/sg/podcast/fis-castaway/id1507094242
Fuel Oil Daily Evening Report
Oil off highs on API build, awaiting EIA data
The oil market has continued to come off recent highs after the API predicted a build of 1.7 million bbls for last week. It did, however, also predict a draw in gasoline and distillate levels. But let’s keep an eye on for later this afternoon when the EIA will confirm the actual stats. …
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Oil Through the Looking Glass 24/6/20
*API FYI, but WBU EIA* The American Petroleum Institute (API) has predicted that crude stocks rose by 1.7 mil bbls last week. This isn’t exactly the greatest news on the demand front, something which is sorely needed by producers to help drive up prices after such historic lows in April. That being said, they have …
FIS Fuel Oil Morning Report 24/06/2020
Good morning all. Brent crude was down 29 cents, or 0.7%, at $42.34 a barrel by 0335 GMT, while U.S. WTI crude futures fell 35 cents, or 0.9%, to $40.02 a barrel. The market has continued to come off recent highs after the API predicted a build of 1.7 million bbls for last week. It …
Capesize rallies on high iron ore prices
Capesize rates rallied on bullish market sentiments after strong gains seen in both the Pacific and Atlantic basins. The Capesize 5 time charter average surged by $1,308 day-on-day to $26,672 on Tuesday, despite the lagging Q4 and Cal 21 contracts in the future market. Buoyed by the Capesize rally, the Baltic Dry Index (BDI) continued …
