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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. .


Andreas Enger, Höegh Autoliners. Höegh orders six LNG-fuelled Aurora-class vessels with future-fuel provisions  

9,100-CEU ships equipped with ammonia- and methanol-ready notation and designed to operate on LNG and low-sulphur fuel oil.

Puerto Rico flag. Puma Energy confirms bunkering operations in Puerto Rico  

The development has been known to regional industry players for several weeks.

Singapore waterfront skyline. Koch Minerals & Trading seeks bunker procurement intern in Singapore  

Successful applicant to work under the mentorship of KM&T’s senior bunker procurement coordinator.

Dan-Bunkering logo. Dan-Bunkering relocates Middelfart headquarters to Kabelbyen  

Bunker firm moves to office complex connected to parent company USTC.

Maria Topic vessel. OceanWings and Tsuneishi Shipbuilding complete rigid wingsail retrofit on bulk carrier Maria Topic  

Ultramax bulk carrier returns to commercial service fitted with a rigid, tiltable wingsail system.

Dubai Marina skyline. XPower Trading seeks senior bunker trader for 'newly established' Dubai role  

Position requires at least five years' bunker trading experience.

Flag of Brazil. Petrobras resumes VLSFO sales at Itaqui as MGO supply disruption continues  

MGO pipeline work at Brazil’s Port of Itaqui remains on track through 9 November.

Ammonia Energy Association (AEA) logo. AEA qualifies global roster of auditors for ammonia certification system  

Bureau Veritas, DNV, TÜV SÜD and three others cleared to verify low-emission ammonia credentials.

New York city skyline. IBIA early-bird registration deadline approaches for New York convention  

Discounted rates available for members and non-members up until the end of August.

MARAD and Core Power MOC signing. MARAD and Core Power sign cooperation framework to advance nuclear-powered merchant ships  

Agreement targets first construction from 2028 as China accelerates its own nuclear shipping ambitions.


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