FIS API Blog
China’s top leaders should reveal on Friday how much they’re planning to spend on stimulus to support the post-virus economy, when they belatedly announce their economic policy blueprint for the rest of 2020. The centerpiece event will be the work report delivered by Premier Li Keqiang, which typically contains the economic growth and spending targets, …
Continue reading “What to Watch as China Unveils Stimulus in Policy Meeting”
Oil was headed for its longest run of daily gains in 15 months after a drop in U.S. crude stockpiles added to signs that a market upended by coronavirus lockdowns and a producer price war is rebalancing. Futures in New York rose for a sixth day past $34 a barrel, the longest streak for the …
Continue reading “Oil Heads for Sixth Daily Advance After U.S. Stockpile Draws”
Capesize market rebound to better shipping demand, with improving freight rates in both the Atlantic and Pacific basins. Thus, the Capesize 5 time charter average rose by $587 to $3,462 on Tuesday, as some trade participants believed that the market had bottomed out. Buoyed by the better Capesize market, the Baltic Dry Index rose over …
Continue reading “Capesize continues the good run with better demand”
Oil steadied after a four-day gain as investors weighed signs the market is rebalancing against what’s still a precarious economic outlook. Futures in New York for July delivery edged above $32 a barrel after the June contract closed at a 10-week high as it expired. Federal Reserve Chairman Jerome Powell warned Americans could start losing …
Continue reading “Oil Rally Stalls With Fed Warning Countering Production Cuts”
Capesize market continued its positive run with more fixings and stronger Pacific market that drove better freight rates. As such, the Capesize 5 time charter average rose by $481 to $2,875 on Monday, as some trade participants were heard to do “bottom picking” after another round of short covering. Driven by better Capesize rates, the …
Continue reading “Capesize extends positive run on better bunker prices”
Oil production from the top seven shale regions in the U.S. is set to tumble to levels not seen since 2018 as drillers scale back in response to the recent price collapse, the Energy Information Administration said. Crude output from seven major shale formations expected to fall by a record 197,000 barrels per day in …
Continue reading “Shale production tumbles as VLCC armada heads east”
Ferrous Sector Money Flow: DCE iron ore aggregated open interest is up 38.97% from April 29th and reached the highest level in Q2, coking coal decreased by 18.55% during the same period. Steel, coke and flat glass used in house construction remained stable on open interest. Investors should be aware of money flow out of …
Continue reading “China construction in the bubble, iron ore demand risk remains”
Oil’s historic crash below zero looked increasingly like an aberration as the June contract rose for a fourth day in its last session of trading before expiring. Amid growing signs of a nascent recovery in demand, deepening production cuts and optimism that the world is getting closer to finding a vaccine for the coronavirus, futures …
Continue reading “Repeat of Oil’s Sub-Zero Plunge Unlikely as June Expiry Nears”
