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Tag archives: FO
European Close 24/11/20
The December Iron ore futures had a bit of a rebound overnight with price closing 1.09% higher. The rebound has been attributed to lower Brazil shipments and Bloomberg intelligence stating that price will likely stay strong before year end, as steel output remains at high levels. Steel margins remain solid and unchanged at CNY 300 …
Fuel Oil Daily Evening Report
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Oil Through the Looking Glass 24.11.2020
*Oil Hits Highest Since March Collapse on Vaccine* Oil prices touched just under the $47 per barrel mark as the hopes of a vaccine and a Biden White House supported prices from mid-November. Three vaccines have emerged with a high rate of efficacy in preventing the worst symptoms of COVID-19, which has had a positive …
Capesize rates receive support from firm market
Capesize freight rates continued to gain upward momentum on improving physical market and market optimism. The Capesize 5 time charter average then inched up by $124 day-on-day to $12,021 on Monday, due to better freight rates in both basins. The Baltic Dry Index (BDI) followed the market positivity and went up by 1.83% or 21 …
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Morning Oil Report 24/11/20
Brent crude futures rose 43 cents, or 0.9%, to $46.49 a barrel by 0522 GMT, while U.S. West Texas Intermediate crude rose 45 cents, or 1.1%, to $43.51 a barrel. Yesterday marked a big step in the administration of Biden, where the handover of power began from Trump in advance of the president-elect due …
European Close 23-11-20
Steel margins remains supported at CNY 301; however, the iron ore market has now started to come under pressure with yesterday’s futures closing 1.12 % lower at USD 123.35. Price dropped from a six year high after BHP flagged near-term downside risks to Morgan Stanley at a roundtable last week. BHP cited a rebound in …
Fuel Oil Daily Evening Report
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Oil and Ore Intraday Morning Technical
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Morning Oil Report 23/11/20
Brent crude futures rose 21 cents, or 0.5%, to $45.17 a barrel by 0436 GMT and continued to rise in the early morning, reaching $45.73 by 0741GMT while U.S. WTI crude gained 10 cents, or 0.2%, to $42.52 a barrel. Both benchmarks jumped 5% last week, as the oil market looks to gather pace on …