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 start off where they finished last year - upwards

02 Jan 2018 08:39 GMT

By A/S Global Risk Management.



Brent oil price has climbed around $4 compared to a month ago and now seems heading towards $70.

The number of active oil rigs in the U.S. was reported to be unchanged according to Baker Hughes report of last week. It is the third week in a row with no changes. The weekly oil inventory report from the Energy Information Administration (EIA), published on Thursday, showed a huge draw in crude oil inventories and oil production dropped to 9.754 mio. barrels per day, from 9.789 mio. barrels per day the week before. The next oil inventory report from the EIA will be published on Thursday this week due to the holiday.

The geopolitical risk premium increases as news of increasing unrest in Iran emerged with anti-government protests. Iran is one of the largest oil producers in OPEC with a production just shy of 4 mio. barrels per day and any risk of production disruptions support oil prices.

The Forties pipeline, supplying the UK with North Sea oil, has been restarted and returned to full operations just before the New Year.



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:

Brent closed at low-$66 level despite draw on US crude stocks

Latest News:

Skangas confirms naming ceremony for LNG vessel
Fuel-saving coal carrier delivered to K Line
Bunker-saving Stena Immortal named in digital ceremony
Oil and fuel oil hedging market update
Oil is taking a breather on mixed news
Fenosa and Balearia ink Spain's first multi-year LNG bunker supply deal
Cockett seeks credit controller in Dubai
Part-load optimisation delivers bunker savings for MAN auxiliary engines
Petrobras reveals barge fleet for Vitoria, Praia Mole and Tubarao
U.S. crude inventories continue to decline.
Oil and fuel oil hedging market update
Queen Elizabeth's fuel supply system equipment made in UK




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