BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News



Crude oil ends the week five percent higher on positive sentiment

By A/S Global Risk Management.



Michael Poulson, Oil Risk Manager at A/S Global Risk Management. Image credit: A/S Global Risk Management


Updated on 17 Jul 2017 07:09 GMT

By Michael Poulson, A/S Global Risk Management

Baker Hughes released its rig count data on Friday during US trade and it showed that for the week ending 9th July, two additional oil rigs were put into operation, bringing the number to 765. The rate of increase has indeed slowed down amidst the lower crude oil prices in May and June.

During the week, we also had Chinese customs releasing crude oil import data which showed that imports during first half 2017 was 13.8 percent higher than the same period last year. Paris-based IEA also released a report stating that demand growth would accelerate during 2018.

Crude inventories in the US fell by 7.6m barrels last week, bringing crude stocks below the 500m barrel mark. Though this is still above the five year average, this likely provided a boost to market sentiment for the week.

All in all, it was a good week for oil bulls with the above mentioned points providing a lift to prices. Front month Brent and WTI ended the week at 48.91 and 46.54 respectively.



A/S Global Risk Management is a provider of customised hedging solutions for the management of price risk on fuel expenses. The company has offices in Denmark and Singapore. For further details about its risk management products and services, please call +45 88 38 00 00 or email hedging@global-riskmanagement.com.






Related Links:

A/S Global Risk Management Ltd.

Latest News:

IBIA posts advice following spate of fuel quality issues
Oil and fuel oil hedging market update
Port infrastructure 'ill-prepared' for LNG bunker growth: Costa Cruises
Costa Cruises outlines fuel-related measures in Sustainability Report
VLCC with bunker-saving features delivered in China
Van Oord inks accord to test semi-dry scrubber system
Fenosa performs Valencia's first LNG bunker delivery
Pilot agreement signed for fuel-saving 'car wash for ships' in Rotterdam
Oil and fuel oil hedging market update
Bunker boost for Australia as Carnival confirms record cruise sailings
Saudi/Russia back exit from oil production deal, Libya supply disruptions
Ecoslops' La Mede plant could produce three times less GHG emissions: study




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events