The November iron ore futures traded up to a high of USD 117.36 but failed to hold at these levels during the Asian day session, as concerns about increasing supply continue to linger. However, price is up 0.64% from the Singapore close (USD 116.20) but below the USD 1116.76 level that we were seeing on …
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Fuel Oil Daily Evening Report
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Oil Through the Looking Glass 19.10.2020
*OPEC+ To Discuss Weakening Oil Demand Outlook* Today, OPEC+ are meeting to discuss the near future of oil and the role that it can play in stabilizing prices as output increases as well as coronavirus cases, but the group it unlikely to recommend any immediate cuts as they are due to meet at 1330GMT this …
Oil and Ore Intraday Morning Technical
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Morning Oil Report
Brent crude for December slipped 15 cents, or 0.4%, to $42.78 a barrel by 0405 GMT. WTI for November was at $40.70 a barrel, down 18 cents. The fall in oil was sparked by the smaller than expected rise in economic growth in China, with the underlying cause for concern being the increasing global coronavirus …
Capesize rates plunge on thin market activity
Capesize freight rates were subdued toward the end of the week, following the selloff in paper markets and thin physical market. The Capesize 5 time charter average dropped by $1,785 day-on-day to $19,952 on Friday, as the physical market showed no signs of improvement. Due to weak freight market, the Baltic Dry Index (BDI) plunged …
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European Close 16-10-20
Is the market taking a rest, or is it bullish? This is the question that traders need to ask when looking at the iron ore. Four bearish days have been capped by two bullish days (one bullish and a push into the night session) with the futures up 1.6% at USD 116.76, this would suggest …
Fuel Oil Daily Evening Report
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (KS): …
Oil Through the Looking Glass 16/10/20
*Oil Continues Negative Move on Covid Worries* New restrictions across the globe are being introduced as Covid-19 resurges and cases are increasing. This had led to renewed concerns about the outlook for economic growth and therefore the demand for oil and products. Reuters noted that top oil traders Vitol, Trafigura and Gunvor were seeing a …
Capesize rates drop on weak shipping fundamentals
Capesize freight rates continued to decline further due to aggressive selloff in paper market and bearish sentiment in the physical market. The Capesize 5 time charter average fell by $1,568 day-on-day to $21,737 on Thursday, as buyers retreated from the market, while sellers chased it lower. As such, the Baltic Dry Index (BDI) then fell …
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