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/
Oil climbed as investors assessed the impact on global crude flows after a ship ran aground and blocked the Suez Canal, following a sell-off on Tuesday, reports Yahoo Finance.
Markets reprieveCrude was also bolstered by positive economic data as Europe posted a record increase in factory output.
Futures in New York added as much as 3.4% after a ship ran aground, giving the market a reprieve after prices sank to the lowest level since early February.
For more information read our article Mega...
https://mfame.guru/oil-price-rebounds-on-suez-canal-blockage/
By Alex Longley (Bloomberg) — How do you measure the value of the world’s most important commodity? It’s a conundrum that brought uproar in the oil market over the past few…
By Alex Longley (Bloomberg) — A planned overhaul of how the world’s most important benchmark crude price is calculated has caused a surge in trading of swaps used to hedge North…
According to a Reuters report, oil prices steadied on Monday after strong gains last week, as tough coronavirus lockdowns around the world renewed concerns about global fuel demand, while a stronger U.S. dollar also weighed on prices.
Brent fell 33 cents to settle at $55.66 a barrel, after bouncing off the session low of $54.99. U.S. West Texas Intermediate (WTI) rose a cent to settle at $52.25 a barrel.
New Strain Lockdown Woes“The renewed concerns about demand due to very high numbers of new...
https://mfame.guru/oil-prices-fall-over-new-covid-strain-lockdown-stronger-dollar/
With the oil prices heading north again, ocean carriers are preparing to ramp up low-sulphur fuel surcharges to add to the misery of shippers struggling with sky-high freight rates, surcharges and premium fees, reports the Loadstar.
Brent crude & HSFO prices take a hikeThe price of Brent crude has increased by 41% since early September, to $55 a barrel, with an 8% spike alone last week driven by Saudi Arabia’s pledge to cut output.
During the same period, heavy fuel oil (HFO), consumed by ships...
https://mfame.guru/shippers-embrace-tough-times-amid-spiraling-bunker-surcharges/
According to an article published in CNBC, oil prices nudged up on Monday, with Brent futures set to post a fifth straight monthly gain, as global stimulus measures underpin prices even as demand struggles to return to pre-COVID...
https://mfame.guru/global-stimulus-measures-support-oil-prices-amid-covid-19/
UAE says low oil prices are unsustainable and warns of shocks, reports the Economic Times.
Signs of rising demandUAE Energy Minister Suheil al-Mazrouei, on June 15, said current low oil and gas prices are unsustainable and warned that if they last...
https://mfame.guru/prolonged-unsustainable-oil-prices-to-cause-supply-gap/