Tag archives: SM

Short term crude direction waits on data

Newly reported coronavirus cases and mobility data, including an EIA report on gasoline consumption coming out later this week, will be watched by market participants in order to determine the short-term direction of crude prices in the next few days.   On the supply side OPEC+ production is at its lowest since 1991 and is …

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Iron ore uneasy over China weather, steel demand

Iron ore futures rebounded modestly on Tuesday as investors remained concerned over China’s steel demand. Rebar led the way for the rebound in Asia as investors became concerned over the latest environmental curbs in Tangshan which may lead to temporarily closure of many blast furnaces and sintered machines in the area.   Iron ore failed …

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