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





Tropical storm Harvey projected to hit shore between Texas and Louisiana today

30 Aug 2017 08:52 GMT

By A/S Global Risk Management.



By Michael Poulson, A/S Global Risk Management

Tropical storm Harvey projected to hit shore between Texas and Louisiana today.

Currently, just below 20% of US refining capacity is offline. Estimates project that 30% could come offline before the storm wears off. This number is, though, dependent on how quickly refineries away from the "danger zone" are able to go back online. But according to Reuters it could take weeks for a refinery to come back online.

Even though almost one fifth of the US refinery capacity is offline, the API reports a draw of 5.78 mbbl on US crude oil inventory in its weekly report published yesterday] This is a draw in the heavier end of the scale and would theoretically be bullish news, but still neither WTI or Brent prices seemed affected. Brent is still trading just below 52USD, and WTI fell to the lower third of 46USD. Additionally,Bloomberg estimated a draw of 1.75 mbbl.

Likely the stats from EIA later today will come out rather bearish than those of API, which likely will lead to Brent heading towards $50.

During this week, key macro-economic figures, such as PMI's, will be released, pointing towards where global demand is headed.



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.


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




Related Links:


Latest News:

Cockett expands commercial team with 19 hires
Goltens partners with Yara Marine on SOx scrubbers
IBIA names Michael Green as new chairman
Oil and fuel oil hedging market update
Brent crude took modest gains yesterday
ABS issues SOx and NOx emissions reminder
Lubmarine extends EAL range with launch of BIO OG PLUS
First concurrent bunkering operation performed at Stolthaven Singapore
Furukawa Battery certified as approved supplier of marine batteries
Quadrise: Fuel production system commissioned in Saudi Arabia
Is oil heading for the 70s or lower 60s?
Oil and fuel oil hedging market update




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
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