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



Brent remains below $70 on mixed oil inventory report

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 01 Feb 2018 09:50 GMT

The weekly oil inventory report from the Energy Information Administration (EIA) came out mixed with huge build in crude oil inventories of 6.8 mio. barrels, where only a build of around 1 mio. barrels was expected. The build came after 10 weeks of draws in crude oil inventories. However, gasoline and distillates stocks fell by 2 mio. barrels respectively. Refinery runs came at -2.1% In addition, the EIA in its monthly report noted an increase in production to above 10 mio. barrels per day in November; the highest in almost 50 years.

Supporting oil prices was news that OPEC compliance to the current oil production cut deal likely increased to 138% in January, up from 137% in December. Total OPEC oil production increased slightly to 32.4 mio. barrels per day in January.

Turning to economic data, the main potential market movers will be the U.S. ISM manufacturing along with jobs data. In Yesterday's Fed statement, Yellen mentioned that she expects target inflation to be reached in 2018 and maintained a positive outlook for this year. No interest rate hike this time around. The statement is Yellen's last as the new Fed chair Jerome Powell takes over next week (4 February).



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:

Brent price at decision point
A/S Global Risk Management Ltd.

Latest News:

Corvus energy storage system selected for five all-electric Fjord1 ferries
Wartsila LNGPac reaches 100th order milestone
Oil and fuel oil hedging market update
MPA issues smoke emission reminder, warning
Brent remains close to $80
Two more registries approve e-Orb Oil Record Book software
Brightoil's Audit Committee 'negotiating' with adviser; results release date still unknown
Brightoil's Singapore CEO and head of bunkering steps down
ICS urges IMO action to avoid sulphur cap 'chaos'
Oil and fuel oil hedging market update
KC LNG unveils 'game-changer' Y-piece that slashes bunker delivery times
Maersk COO explains unit cost at fixed bunker price, outlines fuel efficiency plan




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