FIS API Blog
The oil market has continued to come off recent highs after the API predicted a build of 1.7 million bbls for last week. It did, however, also predict a draw in gasoline and distillate levels. But let’s keep an eye on for later this afternoon when the EIA will confirm the actual stats. …
Continue reading “Oil off highs on API build, awaiting EIA data”
*API FYI, but WBU EIA* The American Petroleum Institute (API) has predicted that crude stocks rose by 1.7 mil bbls last week. This isn’t exactly the greatest news on the demand front, something which is sorely needed by producers to help drive up prices after such historic lows in April. That being said, they have …
Good morning all. Brent crude was down 29 cents, or 0.7%, at $42.34 a barrel by 0335 GMT, while U.S. WTI crude futures fell 35 cents, or 0.9%, to $40.02 a barrel. The market has continued to come off recent highs after the API predicted a build of 1.7 million bbls for last week. It …
Capesize rates rallied on bullish market sentiments after strong gains seen in both the Pacific and Atlantic basins. The Capesize 5 time charter average surged by $1,308 day-on-day to $26,672 on Tuesday, despite the lagging Q4 and Cal 21 contracts in the future market. Buoyed by the Capesize rally, the Baltic Dry Index (BDI) continued …
*Sell Navarro, Buy Trump* The age-old trader saying of buy the rumour and sell the fact has a new variation in the market today. This centre’s around the confusing events of the US President and his trade advisor Peter Navarro. Navarro told Fox News in an interview that the trade deal with China was ‘over’; …
After a strong rally last week, Capesize rates started on a slow with some selling pressure amid the short trading week. Thus, Capesize 5 time charter average dropped slightly by $147 day-on-day to $25,364 on Monday, after some jitters in the morning session about the strength of C3 market. Due to the selling pressure in …
Good morning all. Brent crude fell 26 cents, or 0.6%, to $42.82 a barrel by 0545 GMT, after earlier skidding to a session low of $42.21. U.S. oil was down 38 cents, or 0.9%, at $40.35 a barrel, having dropped to a low of $39.76. Prices dropped last night after Navarro told Fox News in …
Prices dropped last night after Peter Navarro told Fox News in an interview that the trade deal with China was ‘over’, linking the breakdown in part to Beijing not sounding the alarm earlier about the outbreak of the Coronavirus. These worries were calmed by assurances from the President and White House that the agreement …
Continue reading “What the US takes away, Russia gives back”
