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The post Daily Infographic: Brent crude oil prices averaged $19 per barrel less in 2023 than 2022 appeared first on FreightWaves.
Oil slipped on Monday as concerns about a global economic slowdown and possible further interest rate hikes from the U.S. The Federal Reserve weighed on prices, offsetting forecasts of tighter supplies and OPEC+ output cuts.
Slowdown Hurting Fuel DemandFears of a further slowdown hurting fuel demand grew after data on Friday showed U.S. inflation still outpacing the central bank’s 2% target and stoked expectations it would hike interest rates again. Brent crude...
Bunker fuel prices declined at most ports on Tuesday, with global VLSFO prices ending February at the biggest monthly decline since November, reports Ship And Bunker.
G20-VLSFO IndexShip & Bunker’s G20-VLSFO Index of prices across 20 leading bunkering ports lost $2/mt to $639/mt on Tuesday, taking its overall decline last month to $51/mt. The G20-HSFO Index rose by $1/mt to $452.50/mt, while the G20-MGO Index declined by $4/mt to $908.50/mt.
ICE Brent crude futures...
https://mfame.guru/g20-vlsfo-index-posts-biggest-monthly-decline/
Oil prices fell about 1% to a near two-week low in volatile trade on Wednesday after the U.S Federal Reserve delivered another hefty rate hike to quell inflation that could reduce economic activity and demand for oil, reports CNBC.
Risk assets like stocks and oil fell on the news, while the dollar ralliedThe Fed raised its target interest rate by 75 basis points for the third time to a 3.00-3.25% range and signalled more large increases to come. Risk assets like stocks and oil fell on the news,...
https://mfame.guru/oil-prices-fell-about-1-to-a-near-two-week-low/
Opec said the recent oil sell-off was the result of “erroneous signals” as the cartel pushed back against predictions that slowing economic growth and monetary policy tightening would weigh on global crude demand into 2023, reports Global Telegraph.
The unchangedOil market fundamentals were “unchanged”, the producer group argued, yet hedge funds and other money managers had continued to close out bets on rising prices in the two major oil futures contracts “amid a market narrative of worsening...
https://mfame.guru/oil-sell-off-driven-by-erroneous-signals-in-markets/
Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown:
“The UK has already committed to weaning itself off Russian oil and coal imports by the end of the year but its long term plans to increase energy security are in sharp focus today. Vain hopes that the new energy strategy being unveiled would throw a bill lifeline to struggling households or boost energy...
GLOBAL & REGIONAL DAILY
HIGHLIGHTS
March 18 2022
Global Markets
On geopolitical developments, as Russia-Ukraine peace talks have yet to bear fruit, oil prices rose y-day and continue advancing this morning, with Brent crude at USD108.08/bbl at the time of writing. The Bank of England decided y-day to raise rates by +25bps to 0.75%.
Greece
According to the ELSTAT Labour Force Survey, the seasonally adjusted unemployment rate in Jan-22 reached 12.8% lower than the downwards revised 16.2% in Jan-21 and...
https://allaboutshipping.co.uk/2022/03/18/global-regional-daily-friday-march-18-2022/
Planes take the strain over fears about soaring infections in Europe affecting bookings
Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown.
‘’The dip in early trading among airline stocks has intensified with British Airways owner IAG, Easyjet, Ryanair and Wizz Air nose-diving as fears about soaring infections in Europe take hold. Rolls Royce was also dragged lower...
The price of Brent crude topped $72 per barrel Thursday, with West Texas Intermediate above $70. As the price of oil goes, so goes the price of marine fuel and that means higher costs for ship operators, and in the case of the container sector, more fuel surcharges passed along to cargo shippers, reports Freight Waves.
Higher bunker (marine fuel) costs affect different shipping segments differently. American Shipper looked at each segment, and for a broader perspective on where pricing will go...
https://mfame.guru/impact-of-70-oil-on-containers-tankers-dry-bulk-transport/
Oil prices fell on renewed demand concerns as coronavirus cases in Asia rise and on fears of rising inflation might lead the US Federal Reserve to raise interest rates, which could limit economic growth, reports ArabNews.
Oil price fallBrent crude futures fell 73 cents, or 1.1 percent, to $67.98 a barrel at 0452 GMT. It settled 1.1 percent lower on Tuesday after briefly climbing above $70 earlier in the session.
US West Texas Intermediate (WTI) crude futures dropped 77 cents, or 1.2 percent, to...
https://mfame.guru/oil-prices-fall-amid-rising-covid-19-infections-in-asia/