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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Sharp drop in oil prices

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 17 Jul 2018 06:25 GMT

Oil prices fell sharply on Monday as concerns about supply disruptions eased and Libyan ports reopened while traders eyed potential supply increases by Russia and other producers.

West Texas Intermediate crude oil has retreated to below $70 a barrel and Brent reached a three-month low as Saudi Arabia was said to offer extra crude to some customers, while the U.S. was said to consider tapping emergency supplies to offset losses elsewhere.

The Chinese economy grew at an expected 6.7 percent in the second quarter - its slowest pace since 2016. This gives fear that the Chinese economy is slowing amid an escalating trade war. This is worrying for global growth as the Chinese economy is the second-largest economy in the world.

Yesterday, U.S. President Donald Trump and Russian President Vladimir Putin met in a one-on-one meeting discussing Election Meddling, Nuclear Proliferation, Syrian, and U.K. Poisoning.



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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Oil rises a second consecutive day but ends the week much lower
A/S Global Risk Management Ltd.

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