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Tue 9 Jan 2018, 09:22 GMT

Oil prices around three-year highs


By A/S Global Risk Management.



Brent oil price headed back into the $68 area this morning. The most likely potential market mover will be tonight's weekly oil inventory data.

Allegedly, current geopolitical tensions in OPEC member countries Iran and Venezuela are monitored by OPEC, but no measures are on the way to counter potential production disruptions from OPEC's side yet unless there are significant and sustained disruptions. In Libya, a large pipeline is restarting after suffering damage last week.

Tonight, the weekly oil stocks data from the American Petroleum Institute (API) is published. The last 5 weeks have shown huge draws in crude oil stocks and consensus is another drop this week. Interesting to see if the cold weather has affected the distillates and gasoline inventories in the huge country.

Tomorrow, the oil inventory report from the EIA will be published and followed just as closely.

Turning to economic data, today sees German trade activities along with Eurozone unemployment and U.S. JOLTs job openings. .


Samskip SeaShuttle vessel render. Samskip brings SeaShuttle project into European HyShip initiative to develop liquid hydrogen infrastructure  

Two hydrogen-powered container vessels will operate between Rotterdam and Oslo from 2027.

Antwerpen vessel. Korea Register and HD Hyundai team up to advance ammonia-fuel shipping in South Korea  

Two organisations are cooperating on eco-friendliness verification for ammonia dual-fuel vessels.

Fabio Cococcetta, WinGD. Green ammonia could become the first commercially viable zero-emission marine fuel, WinGD study suggests  

Joint report by WinGD and Envision Energy sets out the economic case for green ammonia.

Rasul Shirinov, Oilmar. Oilmar appoints junior marine fuels trader at Dubai trading desk  

UAE-headquartered bunker firm hires Rasul Shirinov, with a background in the agricultural sector.

Antonia Maersk vessel. Maersk bunkers large dual-fuel vessel with 100% ethanol in Barcelona  

Ocean carrier scales up ethanol bunkering in bid to broaden its low-emission fuel strategy.

Olyx logo. Amsterdam-based Olyx seeks renewable marine fuels broker  

Dutch energy brokerage interested in candidates with two to six years of experience in similar roles.

Mount Asahi vessel. CSSC delivers LNG dual-fuel bulker to Eastern Pacific nearly four months early  

210,000-tonne Mount Asahi handed over ahead of contract schedule.

Mount Vision vessel. New Times Shipbuilding delivers three LNG dual-fuel tankers in four days  

Chinese yard hands over one VLCC and two Aframax-size crude tankers within a single week.

Mercedes Pinto vessel TTS LNG bunkering. Baleària ferry completes LNG bunkering at regular berth in Las Palmas for first time  

LNG refuelling of Mercedes Pinto set to take place weekly without changing berth.

Baltic Timber vessel. Baltic Shipping Company takes delivery of wind-assisted hybrid coaster  

3,550-dwt vessel is fitted with Econowind VentoFoils and a battery package.


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