We are seeing History in the making when the European Union announced its 750 billion- Euro ($824 billion) recovery package, aimed at boosting economic growth and creating a swathe of new jobs. The capital injection will have global financial markets breathing a sigh of relief, following the commitment from China at the Two Session to …
Tag archives: FO
Brent July 20 Morning Technical Comment – 240 Min
https://freightinvestorservices.com/wp-content/uploads/2020/05/FIS-Morning-Technical-Brent-28-05-20.pdf
Capesize suffers from oversupply
Capesize market came under pressure again amid bearish market sentiment for June. Thus, the Capesize 5 time charter average went below $4,000 level again, after a drop of $334 to $3,786 on Wednesday. The volatile bunker market did not help to support the freight rates and thus the Baltic Dry Index went downhill by 0.79% …
API v EIA – quick on the draw?
The predicted rise in US stock levels have dragged down markets further this morning, continuing losses and putting prices ever closer to the $30 mark again. Data from U.S. industry group API predicts crude stocks rose by 8.7 million barrels in the week to May 22, compared with analysts’ expectations for a draw of …
FIS Technical – Brent July Daily
Slow start to Capesize after long weekend
Capesize market made a slow start after a long weekend break, with sluggish shipping demand in physical and paper markets. Thus, the Capesize 5 time charter average dipped slightly by $20 to $4,120 on spot rates, almost a flat index that failed to inspire the paper market. The almost unchanged index may reflect market concerns …
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Oil Halts Rally Near $34 on Signs Russia May Ease Supply Cuts
Oil slipped from the highest settlement in 11 weeks on signs Russia was planning to start easing supply cuts from July, while tensions between the U.S. and China escalated amid the specter of sanctions. Futures fell 0.8% in New York after closing above $34 a barrel for the first time since March. Moscow wants to …
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U.S. Mulls Sanctions on Chinese Officials, Firms Over Hong Kong
The U.S. is considering a range of sanctions to punish China for its crackdown on Hong Kong, people familiar with the matter said, as the Trump administration weighs whether to declare the former colony has lost its autonomy from Beijing. The Treasury Department could impose controls on transactions and freeze assets of Chinese officials and …
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Crude buoyed by Russia cuts, gasoil spreads flat
The crude market was buoyed by comments from Russia reporting its oil output had nearly dropped to its target of 8.5 million barrels per day (bpd) for May and June under its supply cut deal with OPEC. After a bank holiday yesterday and quiet trading, counterparties have come into the market this morning with …
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