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



Financial markets affect oil prices; awaiting US oil production data

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 Apr 2018 09:23 GMT

Financial markets affect oil prices; awaiting U.S. oil production data tonight and tomorrow

As the US last month imposed tariffs on steel and aluminum imports, the financial markets have gone through a risk-off period meaning that risky assets are sold. In general, the equities markets have been hurt on fears of these tariffs leading to a trade war between the US and China. Yesterday China responded with tariffs on 128 US products, which is an escalation of the situation resulting in large drops in the US equities markets. As these markets fell oil followed sending the Brent price down from a level about 70$ to a level about 67,5$. Currently Brent has gained half a dollar to trade just shy of 68$.

Looking at the oil fundamentals, US production is still on the rise and is now looking towards 10.5 million barrels produced a day, which is an increase of about 500 kbpd over the last 2 months. Counterweighing the production is that exports are still strong and especially to China despite the trade disputes between the two. Also, Friday's weekly oil rig count from Baker Hughes showed a decline in the number of active oil rigs of 7 to 797.

Later today the API is releasing their weekly inventory data. Today it is especially important to follow as it could give an indication of whether the fundamentals favour further lower prices or the 70$ level. Please note that; whatever the outcome is going to be, the financial markets are, though, assessed to be the primary price driver at the moment.



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 lower on surprise API crude build, ongoing equities sell-off
A/S Global Risk Management Ltd.

Latest News:

Hurtigruten to upgrade up to nine ships to gas-electric power
All-electric vessel launched for Norwegian fjord route
Wartsila CEO talks up 'critical role' of LNG, calls for 'clear' GHG roadmap
Industry coalition makes case for LNG in wake of MEPC 72
Oil and fuel oil hedging market update
Brent closed at $75 but quickly fell to current levels of $73-74
Itsas Gas secures Cepsa supply contract; Oizmendi starts bunkering in Huelva
Eco Marine Power to expand Aquarius Eco Ship Project
Wartsila in first optimised maintenance tie-up for LNGPac system
Bullish momentum sends oil prices above three-year high
Oil and fuel oil hedging market update
Nor Lines LNG-fuelled ships to include Rotterdam in weekly service




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