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 still looming; huge jump in active US oil rigs

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 09 Apr 2018 09:58 GMT

Currently, a huge driver of oil prices is the looming trade dispute between the U.S. and China as the equities markets are suffering; spilling over to the oil market. Even though China did respond to the initial tariffs imposed by the US, and Trump made a new proposition of an additional 100 billion dollars of tariffs the media is not quite sure if there is an actual trade war going on. In terms of who has got the upper hand, the US is clearly importing more Chinese goods than China imports US goods. But there are a lot of large US companies operating in China which possibly could come in the line of fire if the situation escalates further. If any drastic means are to be taken is difficult to say, but what is almost certain is that both presidents have legitimacy at stake. The conflict is still red hot and is currently weighing on crude oi l prices. Looking at the fundamentals - the weekly US crude production reached a new record high last week of 10.433 mbpd.

Additionally, the US oil rig count increased by 11 to the highest level in 3 years increasing the strength of bears is in the market.

After 3 weeks in the U.S. , the Saudi Arabian crown prince this week begins a European tour, starting in France and Spain this week, allegedly looking for investments and strengthening cultural ties.

Turning to economic data, this week sees Chinese inflation data, U.S. central bank meeting minutes and - mainly oil-related - the monthly OPEC oil market report (Thursday) along with the International Energy Administration (IEA) monthly report (Friday).production data and the monthly International Energy Agency (IEA) oil market report is released.



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:

Wait-and-see mode ahead of US jobs reports and oil rig count
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