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



Oil prices continue to swarm around $52 on mixed news

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 07 Aug 2017 07:55 GMT

By Michael Poulson, A/S Global Risk Management

Upbeat U.S. job data and declining oil rig count sent oil prices slightly upwards on Friday and, at the time of writing, Brent oil price is around $52.2.

The weekly oil rig count from Baker Hughes on Friday showed a drop of 1 active drilling rig last week. After months of steep increases in the number of rigs in the U.S., the curve now seems to have lost steam.

U.S. employment data on Friday pointed to improved job situation in the country. This is mixed for oil prices, as more people with a job could mean increased oil consumption (driving etc.), but also increases probability of an interest rate hike by the Fed which could dampen consumption.

Today, a row of OPEC and non-OPEC oil producers meet in Abu Dhabi to discuss the level of compliance to the current oil production cut deal. It is a two-day gathering - bits and pieces of news and comments from the gathering could give some market jitters. Especially, the recent rise in production of Libya and Nigeria - both exempt from the production cut agreement - could cause additional interest.

All in all, we are heading into another exiting week in the oil market!



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:

Nine-month high: Singapore sees rise in bunker calls as percentage of ship arrivals
Oil and fuel oil hedging market update
Pegasus has bunker craft operator licence revoked in Singapore
Singapore Q2 bunker sales lower than in 2016
Oil rises a second consecutive day but ends the week much lower
Singapore H1 bunker sales surpass 25m tonnes for first time
Brightoil explains how new exchange rules could affect its listing status
Oil and fuel oil hedging market update
Wartsila inks EUR 170m deal to retrofit scrubbers
Singapore bunker sales up YoY... but second-lowest in 16 months
Brent oil price remains below $75 as mixed news hits the market
New Enginei feature helps operators optimize speeds and fuel efficiency




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