Tag archives: FO
Oil Through the Looking Glass 28/7/20
*Brace for the Second Wave As the British Prime Minister, Boris Johnson, warns the country to start to prepare for a second wave of the virus after implementing quarantine measures on visitors from mainland Spain, so too the oil industry is warning of yet more disruption to come. Top US and European oil companies are …
Capesize rates correct further on bearish outlook
Capesize rates resumed its correction phrases for the short week with Singapore on public holiday at Friday. The Capesize 5 time charter average then dropped further by $270 day-on-day to $17,014 on Monday, after a sluggish start of the short trading week. Likewise, the Baltic Dry Index (BDI) slipped 1.82% day-on-day to 1,293 readings on …
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Oil and Ore Intraday Morning Technical
Morning Oil Note 28/7/20
Good morning all. Brent crude futures were unchanged at $43.41 a barrel at 0634 GMT while U.S. WTI crude futures fell 14 cents, or 0.3%, to $41.46 a barrel. Both benchmarks rose as much as 0.5% earlier in the session. The US dollar dropped to its lowest rate against six other major currencies after …
Fuel Oil Daily Evening Report
The ‘New-COVID’ Economy
US-China trade tension and rising COVID-19 infections have resulted in negativity creeping into the iron ore market, the greenback, and European shares. The global outlook is being shaken by the threat of a second European wave and a continued rise of infection levels in the US. The uncertainty has seen gold rally to an all-time …
Capesize rates spiral downward on supply glut
Capesize rates continued its downward movement due to muted market in both basin and fell further away from the $20,000 level. Thus, the Capesize 5 time charter average came under selling pressure and recorded at $17,284, down $1,258 day-on-day on Friday. The Baltic Dry Index (BDI) did not fared better as well and continued the …
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Oil Through the Looking Glass 27/7/20
*Geopolitical Angst and Rising Virus Cases Weigh in Market The escalating tensions between China and the United States has left the market shaky. The consulate closing dispute is the latest move by the two countries which started with a trade war last year. According to data from John Hopkins University, global COVID-19 case counts have …