Fuel oil arbitrage and Capes take a breather

Commodity roundup: iron ore drops, Capes take a breakHello and welcome back to Freight Up, the number 1 commodities and freight markets podcast from FIS. I'm your host, Davide, and in this episode of Freight Up, we're covering the fuel oil arbitrage, and the latest on the Capes.We start with a roundup of the latest macroeconomic news, discussing topics such as China's consumer price rise and US employment rate. We then hear from our team of 'Freight Uppers' on the topics of iron ore, dry freight, and fuel oil. Hao Pei provides insights into the significant drop in the iron ore market and potential signs of reversal. Ben Klang shares the shifts in the dry freight market, including the impact on the FFA market. Archie Smith discusses the impact of data releases, including the OPEC monthly report, on the fuel oil market and explains the volatility in the front month high sulphur fuel oil east-west differential. What are you waiting for?Click play on the episode and listen in as we break down the complex world of freight and commodities.Useful links:FIS LiveTimestamps00:00 US inflation stable, freight market movements summarised.03:51 Iron maintenance stable, but dropped on Friday.08:36 Capes experienced choppy FFA market, with increases.12:56 OPEC lowers production; CPI stays steady. API data shows crude stockpile decrease.15:19 Asian buyers support prices, European prices higher.