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Category archives: Fuel Oil
Fuel Oil Monthly Report Aug 2020
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Oil and Ore Intraday Morning Technical 3/9/20
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Capesize rates lower on thin shipping activities
Capesize freight rates continued its correction phrases on thin market activities, especially among ship-operators. Thus, the Capesize 5 time charter average went down by $406 day-on-day to $17,638 on Wednesday, following a selloff that reduced spot premium. The Baltic Dry Index (BDI) then fell by 1.77% or 26 points day-on-day to 1,445 readings from weaker …
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Oil Through the Looking Glass 3/9/20
*Los Angeles Bunkers Volumes Fall for Fifth Straight Month in May* Deliveries of marine fuel into the west coast ports of Los Angeles and Long beach fell for the fifth consecutive month according to the port of Los Angeles in the S&P report. May volumes have printed at 1,210,370 down 12% on the month and …
Morning Oil Report 3/9/20
Good morning all. Brent edged up 2 cents, or 0.05%, to $44.45 a barrel at 3:49 am GMT, while WTI futures were up 9 cents, or 0.22%, at $41.60 a barrel. Total products supplied, a proxy for demand, declined by more than 13% during the week ended on August 28 at 16.98 million b/d, …
Fuel Oil Daily Evening Report
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Capesize rates slip despite decent shipping demand
Capesize freight rates entered correction phrase despite decent shipping demand and high iron ore prices in the market. Thus, the Capesize 5 time charter average saw a slight correction of $350 day-on-day to $18,044 on Tuesday, after an aggressive selloff down the forward curve. The Baltic Dry Index (BDI) then fell by 1.14% or 17 …
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Oil Through The Looking Glass 02.09.20
*Power Demand Pushes UAE August Oil Output Above OPEC+ Quota* Stay at home vacations have been the reason for why the UAE have exceeded their OPEC+ quota as there has been a greater demand for gas in power generation. The rate is around 2.693 million bpd, which is 100,000 above the quoted level for August …
Morning Oil Report 2/9/20
Good morning all. WTI futures rose 34 cents to $43.10 as of 3:10 am GMT, while Brent futures rose 37 cents to $45.95 a barrel. Better-than-expected US manufacturing data also came a day after a private gauge of Chinese manufacturing activity. The headline ISM manufacturing index rose to 56.0, reflecting continued expansion for the US …