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



Oil dropped after bearish oil EIA report

By A/S Global Risk Management.



Image credit:


Updated on 07 Dec 2017 10:00 GMT

Yesterday's EIA stats showed a draw in crude of 5,6 mbbl a build in distillates of 1,7 mbbl and a huge build in gasoline of 6,8 mbbl. One could argue that the stats were bullish in terms of crude, but the net level was a bearish build.

Most likely the dust has settled from the OPEC meeting, and market focus is returning to fundamentals, liklely also in absense of other major news and events. The fundamentals are looking quite bearish in terms of U.S. crude production. The U.S. crude production once again reached 30-year record level of 9,71 mbdp up 25 kbpd from last week. Despite the build in products, U.S. is exporting a lot of crude, distillates and gasoline at the moment meaning that world demand is still going strong. U.S. refineries are running at above normal levels these weeks to accommodate the crude inflow and world demand. Additionally, the US refiners are likely building up gasoline storage for next year, so expect further gasoline builds in the weeks to come.

Macro figures are being released today and the next couple of days. Tomorrow US unemployment rate and nonfarm payrolls will be 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:

Huge gasoline stock build, OPEC (over)compliance and US economic data
A/S Global Risk Management Ltd.

Latest News:

Risk minimisation in uncertain times | Geos Group
Bunker Energy takes over Maxcom Bunker's commercial activities
World Fuel Services to launch Pacific Northwest supply operation
Oil and fuel oil hedging market update
Brent remains in the $60s this morning
Oil and fuel oil hedging market update
$60s are hard to hold
Silverstream hails air lubrication uptake ahead of 2020
Oil and fuel oil hedging market update
OPEC, non-OPEC oil producers agree to cut 1.2m bbl/d
Aegean secures final approval for initial set of motions
MoU signed to test fuel gas and bunkering systems in Busan




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
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