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 trading sideways, Brent remains above $60

By A/S Global Risk Management.



Image credit:


Updated on 03 Nov 2017 09:30 GMT

Yesterday's EIA inventory status did not show a remarkable effect on the oil market despite draws in all inventories.

Brent oil price nearly touched $60 intraday yesterday before heading back upwards as more bullish news hit the market.

Several OPEC members, Saudi Arabia, Iraq, Kuwait, stated that they will support a decision to extend the current oil production cut deal later this month. However, how long the extension will be remains undecided.

The political and economic situation in Venezuela continues to deteriorate. The country is highly dependent on oil export revenues, but production has dwindled despite the vast proven oil reserves. Current oil production is just shy of 2 mio. barrels per day.

Today, the weekly oil rig count from Baker Hughes is published - last week showed a slight increase in the number of active drilling rigs after several weeks of declines. Oil markets are watching closely if the U.S. - being one of the world's largest oil producers - will be ramping up production as oil prices continue to increase.

Turning to the economic data, this afternoon sees the monthly non-farm payroll data and unemployment rate from the U.S. Also, UK services PMI is published later today.



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:

Oil prices continue the uptrend
A/S Global Risk Management Ltd.

Latest News:

IMO launches toolkits to tackle ship and port emissions
Bunker-saving JIT study presented at IMO HQ
Working group to finalize Initial Strategy programme for MEPC 73
Oil and fuel oil hedging market update
Bunker issues pack MEPC 73 agenda
Volatility around $80
Arkas and Sumitomo ink Turkey LNG bunkering accord
MEPC 73: Coalition calls for 'urgency' to adopt CO2 reduction measures
Concept ship shows IMO CO2 reduction targets can be met: Project Forward
Oil and fuel oil hedging market update
Tallink signs LOI to build second LNG-fuelled ferry
Will Saudi Arabia be able to replace Iranian oil?




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
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