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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Trade dispute escalation, OPEC meeting jitters cause volatility

By A/S Global Risk Management.



Michael Poulson, Global Risk Management. Image credit: Global Risk Management


Updated on 19 Jun 2018 07:51 GMT

As mentioned in yesterday's Market Briefing, bits and pieces of news regarding the upcoming OPEC and non-OPEC meeting later this week caused increased volatility, and comments that Saudi Arabia and Russia could agree to ramp up production gave some market jitters. This morning, markets are trying to find direction.

Increased geopolitical risk premium in the Middle East as fighting flared in Yemen over the past days. The political situation in Yemen is fragile and fighting has escalated since 2014-15. The country is a small oil producer, but its geographical position just next to Saudi Arabia makes it strategically important in the area.

The trade conflict between the U.S. and China continues to take centre stage with the two parties continuing to impose additional tariffs on each other - a dispute which causes some unrest in the financial markets, spilling over to the oil market as tariffs could also be imposed on U.S. crude oil exports to China.

Repeat message from yesterday: expect increased volatility until the OPEC and non-OPEC meeting on Friday and Saturday this week.



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.






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