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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. .


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38-metre KRATT is said to be the first vessel of its kind in the region.

YM Willpower bunkering operation via SIMOPS. Yang Ming completes first LNG SIMOPS bunkering for YM Willpower in Shanghai  

Dual-fuel boxship receives 2,000 tonnes of LNG during simultaneous cargo operations.

Chris Kruger, AYK Energy. AYK Energy and Gebhard Electro secure two vessel electrification contracts  

A new dredger and a patrol vessel retrofit form the latest battery projects for the duo.

Pan Ke and Yang Chunhua. Everllence and Hudong-Zhonghua sign engineering design agreement for LNG carrier development  

Agreement covers 180,000-cbm LNG carrier featuring a hybrid-electric propulsion system.

Corvus Energy technicians. Corvus Energy partners with Belga Marine to support Brazil’s battery-powered offshore fleet  

Norway-based energy storage firm expands aftermarket service network into Brazil’s growing offshore market.

Singapore Shipping Association (SSA) logo. Singapore Shipping Association updates biofuels bunkering FAQ for 2026  

SSA releases latest edition of its biofuel bunkering guidance document for the Port of Singapore.

Lake Victoria 700th LNG bunkering operation graphic. Eastern Pacific Shipping reaches 700th LNG bunkering operation  

Singapore-based shipowner logs nearly 3 million cbm of LNG bunkered over nearly six years.

Tsurugidake naming ceremony. MOL holds naming ceremony for fourth LNG dual-fuel VLCC  

Vessel, named Tsurugidake, features an LNG fuel tank with a capacity exceeding 10,000 cbm.

VPS Carbon Reduction seminar graphic. VPS to host Bergen seminar on marine fuel quality, lubricants and decarbonisation regulation  

Free-to-attend event on September 16 will feature speakers from VPS and DNV.

Launching ceremony of Carlotta Cosulich. Cosulich Marine Energy launches third methanol-ready bunker tanker in China  

Carlotta Cosulich launched at Taizhou Maple Leaf Shipyard, leaving one vessel in series still to come.


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