*Sell Navarro, Buy Trump* The age-old trader saying of buy the rumour and sell the fact has a new variation in the market today. This centre’s around the confusing events of the US President and his trade advisor Peter Navarro. Navarro told Fox News in an interview that the trade deal with China was ‘over’; …
Category archives: Fuel Oil
Capesize goes on a bumpy ride
After a strong rally last week, Capesize rates started on a slow with some selling pressure amid the short trading week. Thus, Capesize 5 time charter average dropped slightly by $147 day-on-day to $25,364 on Monday, after some jitters in the morning session about the strength of C3 market. Due to the selling pressure in …
FIS Fuel Oil Morning Report 23/06/2020
Good morning all. Brent crude fell 26 cents, or 0.6%, to $42.82 a barrel by 0545 GMT, after earlier skidding to a session low of $42.21. U.S. oil was down 38 cents, or 0.9%, at $40.35 a barrel, having dropped to a low of $39.76. Prices dropped last night after Navarro told Fox News in …
Brent August 20 Morning Technical Comment – 240 Min
Fuel Oil Daily Evening Report
US rig count falls as Asia refiners stall
Both WTI and Brent crude contracts rose about 9% last week and Brent crude futures have flipped into backwardation, so that oil for immediate delivery costs more than that to be provided later, usually an indication of tightening supply. In Canada and the United States, the number of operating oil and natural gas rigs …
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Capesize hits a new norm at $25,000 level
Capesize rates had a meteoric rise for the week, jumping from $13,000 base level to over $25,000 level by the end of week on good shipping demand. The Capesize 5 time charter average made a gain of $231 day-on-day to $25,511 on Friday, spotting one of the smallest gains of the week as compared to …
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Oil Through the Looking Glass 22/6/20
*Crude Holds Above $42* Oil this morning is holding onto recent gains, staying above the $42 mark on Brent. Brent crude’s prompt spread was in backwardation for a third day, a bullish market structure that indicates tightening supply. It flipped from contango on Thursday for the first time since March. Meanwhile in the US oil …
FIS Fuel Oil Morning Report 22/06/2020
Brent crude fell 10 cents, or 0.2%, to $42.04 a barrel by 0655 GMT, while U.S. crude was at $39.72 a barrel, down 11 cents, or 0.3%. Both contracts rose about 9% last week and Brent crude futures have flipped into backwardation, so that oil for immediate delivery costs more than that to be provided …
