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



Potential trade war and weekly oil stock data sent oil prices slightly lower

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 07 Mar 2018 09:28 GMT

Fears of trade war escalation increased as the U.S. president's economic advisor quit his job yesterday and insecurity hence increased as to whether the current imposing of taxes on steel and aluminum by the U.S. will cause a global trade war. The fears affected the financial markets and spilled over to the oil market.

Last night, the American Petroleum Institute (API) in its weekly data reported of an increase of 5.7 mio. barrels in crude oil stocks last week. Gasoline stocks fell by 4.5 mio barrels, distillates increased by 1.5 mio. barrels. Now this afternoon's weekly report from the Energy Information Administration (EIA) will be followed closely and could cause additional volatility. Consensus for the data is a build of 2.7 mio. barrels in crude, a draw of 1.2 mio. barrels in distillates and gasoline respectively. The EIA yesterday stated that it expects U.S. crude oil production in Q4-2018 would reach an average of 11.17 mio. barrels per day and 11.27 mio. barrels per day in 2019. U.S. demand is expected to grow by 470,000 barrels per day in 2018, 360,000 barrels per day in 2019.

OPEC's secretary general invites U.S. shale oil officials to the oil producers summit in Vienna in June. In addition, the secretary general made the following remark: The entire industry could learn something from them; they are able to raise production and raise efficiency, ... and it is something we in the industry need to learn".

Turning to economic data, today sees a couple of Fed member speeches, U.S. ADP non-farm employment change and UK annual budget release along with Eurozone GDP.



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:

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
Associations call for sulphur cap progress at IMO meeting




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