Iron ore rebound capped on COVID rebound fears

Iron ore futures rebounded on Wednesday but was capped around $101 as investors kept a worried eye over the latest Coronavirus situation in China.   Beijing stepped up its containment efforts following a cluster of new cases in Beijing and triggered a selloff yesterday afternoon as investors were worried of a second wave of cases. …

Oil Through the Looking Glass 17/6/20

*Crude Stocks and Virus Cases* This morning we read that the API announced their prediction of US stock changes as a build of 3.86 mil bbls. It’s not as big as previous predicted builds we’ve seen recently, but it’s a build nonetheless, and has added to negative sentiment overnight that caused prices to fall. We …