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.



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


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:

Singapore's record H1 was lowest six-month sales period since May-November
2020: Papering over the cracks
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




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