Sign up
Log in Sign up
Wed 14 Mar 2018, 08:10 GMT

Mixed inventory data and upbeat Chinese economic data


By A/S Global Risk Management.

Michael Poulson, Global Risk Management.
Image credit: Global Risk Management
The weekly oil stocks data from the American Petroleum Institute (API) published last night showed a build in crude oil stocks of 1.15 mio. barrels last week. Gasoline and distillates stocks fell by 1.3 and 4.3 mio. barrels respectively. Now this afternoon's report from the Energy Information Administration (EIA) will be followed closely for confirmation/deviation of this trend and some volatility could be expected. Consensus is a build in crude oil stocks, draws in gasoline and distillates stocks.

Today, the monthly oil market report from OPEC is published, likely giving insights to status of the group's compliance to the current oil production cut deal, supply/demand balance and outlook for crude oil market development going forward..

Turning to economic data, overnight Chinese Industrial Production numbers for February came out better than expected at 7.2% (6.2% previous). As China is a huge oil consumer, upbeat economic data tends to be bullish for oil prices as increased activity could spur increased oil consumption. A couple of ECB speeches today and Eurogroup meetings continue. U.S. retail sales data is also published today.

Bjorn Hauschild, IBT Bunkering & Trading. IBT Bunkering & Trading appoints Sales Support Specialist  

Björn Hauschild joins from shipyard broker CombiTrade.
Haiyang Shiyou 301 ship-to-ship (STS) LNG bunkering operation. CLPe and CNOOC complete Hong Kong's first LNG bunkering of a pure car and truck carrier  

Ship-to-ship operation delivered around 2,600 cbm of LNG to dual-fuel vessel AICC Fenghuang.
Mercuria logo. Mercuria seeks senior sales and account manager for bunker delivery platform  

Role can be based either remotely or at one of its offices in London, Geneva, Athens or Las Palmas.
Molgas Energy logo. Molgas Energy Group appoints Riaan van Kralingen as head of clean fuels  

Van Kralingen will oversee the company's liquefied biomethane and EU allowance portfolios, succeeding Caspar Gooren.
GT Wings manufacturing facility. GT Wings launches compact AirWing S Jet Sail for smaller vessels  

Wind propulsion developer adds lightweight unit to AirWing range as first customer-ordered AirWing20 units near completion.
Cargo ship bow in dry dock. LR publishes retrofit guidance covering alternative fuels and energy-saving devices in one framework  

New Guidance Notes address LNG, methanol, ammonia, hydrogen, wind-assisted propulsion and air lubrication retrofits for existing ships.
Spirit of Toulouse fitted with rotor sails. LD Armateurs' Spirit of Toulouse fitted with six Norsepower rotor sails  

Six 35m rotor sails installed on the first of three methanol-capable ro-ro ships chartered by Airbus.
Steel-cutting ceremony for bunker vessel. Maritima holds steel-cutting ceremony for Cap Morgiou, first of two Petroineos bunker vessels  

Construction starts on bunker vessel able to carry conventional and low-carbon marine fuels, with delivery expected in early 2028.
MPA and SIBCON 2026 logos. Singapore launches series of measures at SIBCON 2026  

MPA announces LNG storage licences, digital bunkering grants and electric harbour craft incentives at 24th conference.
SIBCON 2026 pre-conference event. VPS outlines marine fuel standards and quality data at SIBCON 2026  

VPS's Rahul Choudhuri addresses Singapore's evolving fuel standards and the quality of conventional fuels and biofuels.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG / LBM / LBG Biofuel Biogas Biomethanol CBM Dual-fuel E-fuel E-methane / e-NG E-methanol Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind



 Recommended