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 inches up on bullish stocks data and lower dollar

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 23 Feb 2018 08:46 GMT

Oil prices inch up on bullish oil stocks data and lower dollar - markets eyeing oil rig count tonight

The weekly oil inventory report from the Energy Administration Information (EIA) yesterday confirmed Wednesday's data from the API with a draw in crude oil stocks of around 1.6 mio. barrels last week to 420.48 mio. barrels. Distillate stocks fell by 2.4 mio. barrels while gasoline stocks grew by 0.26 mio. barrels. However, the report also pointed to higher U.S. crude exports of just above 2 mio. barrels per day which is close to October's record of 2.1 mio. barrels. Crude oil production remained around 10.27 mio. barrels per day

In Syria, air strikes have picked up over the past 5 days, increasing the geopolitical risk premium in the area. However, U.N. security council is attempting to create a 30-day ceasefire.

Next potential oil price mover will be tonight's weekly oil rig count from Baker Hughes which will give hint of the number of active oil rigs in the U.S.

Turning to economic data, today sees Eurozone inflation data along with a couple of Fed and ECB member speeches..



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:

Surprise draw in crude stocks yesterday; awaiting EIA data
A/S Global Risk Management Ltd.

Latest News:

CMA CGM's takeover of Containerships sees LNG advocates join forces
Hydrogen-powered ferry project secures EU funding
Oil and fuel oil hedging market update
Nauticor's LNG bunker vessel enters final phase before delivery
Bunker checklist for vessel owners published
BC Ferries posts rise in bunker consumption in fiscal 2018
Mixed OPEC news and meeting keep oil price volatility high
Oil and fuel oil hedging market update
World Fuel Services seeks Operations and Trade Support Assistant
Trade dispute escalation, OPEC meeting jitters cause volatility
How to prevent bunker spills: North P&I
Bunker Holding wins award at HR event




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