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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. .


China’s Da Qing 268 vessel. Ningbo-Zhoushan Port completes first ship-to-ship green methanol bunkering  

Zhejiang province port facility delivered 503 tonnes of methanol to a container ship in one hour.

Ole Sloth Hansen and Arne Lohmann Rasmussen. KPI OceanConnect launches podcast series on bunker markets and geopolitical risk  

Marine fuel supplier debuts audio series examining commodity markets, trade route disruptions and Middle East tensions.

Auramarine biofuels webinar. Auramarine to host webinar on biofuels as a marine decarbonisation solution  

Finnish firm's May event will explore current biofuel options and integration strategies for vessels.

Thomas Bondesen, Christian Ramsdal and Jeanette Rathje, Malik Group. Malik Group adds bunker trader, technology head and canteen worker  

Danish marine fuels group expands team with three appointments across commercial, technical and operational functions.

Marine Money 2026 forum. AET outlines multi-fuel decarbonisation strategy at Marine Money 2026  

Tanker operator highlights innovative commercial arrangements with charterers to share decarbonisation risks and rewards.

Titan Optimus alongside Peony Leader vessel. Titan Clean Fuels completes first FuelEU Maritime pooling exercise with DNV verification  

Pool included several hundred vessels, with LNG and biomethane helping balance compliance deficits.

AiP handover ceremony for ammonia-fuelled Panamax bulk carrier. ClassNK grants world-first approval for ammonia-fuelled bulk carrier with Type B fuel tanks  

Japanese classification society issues AiP for Panamax design with tanks installed on exposed deck.

Philippos Ioulianou, EmissionLink. EmissionLink warns UK ETS preparations at risk amid Strait of Hormuz focus  

Maritime emissions compliance provider says regulatory deadline cannot be delayed despite geopolitical disruptions.

FortisBC Tanker truck. FortisBC completes 10,000th LNG bunkering operation for marine vessels  

Canadian utility reaches refuelling milestone as West Coast LNG marine fuel demand grows.

AiP handover ceremony for two next-generation 80m tanker designs. Bureau Veritas approves dual-fuel tanker designs for Australian coastal operations  

SeaTech Solutions receives approval in principle for 80 m vessels designed to carry methanol and biofuels.


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