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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. .


Launching ceremony of Amor. LNG dual-fuel crude oil tankers launched for Maran and Capital Ship  

Two 155,500-DWT vessels launched by New Times Shipbuilding in China.

AiP award ceremony for hybrid electric LNG carrier design. LR, HHI and KSOE sign an AiP to advance hybrid electric LNG carrier design  

Partners to focus on system architecture, redundancy and battery integration for a 185,000-cbm vessel.

Bureau Veritas awards AiP to Kairong and MannTek. Bureau Veritas awards AiP to Kairong and MannTek for LNG bunkering crane system  

Integrated crane and bunkering system unveiled at Gastech 2026 in Bangkok.

AiP award ceremony for VLAC design. Bureau Veritas grants AiP to Jiangnan Shipyard's electric-propelled ammonia carrier concept  

VLAC design combines ammonia-fuelled power, fuel cells, battery storage and wind propulsion.

Closing ceremony of vessel with builder's hull no. 0208122. LNG dual-fuel container ship delivered to Eastern Pacific Shipping  

8,400-TEU vessel handed over in ceremony held at yard in Jingjiang.

ABS signs MoU with Korean organisations. ABS signs MOU with Korean organisations to develop standards for hydrogen ships and smart shipyards  

Five-year framework will target ISO standards for hydrogen vessels, smart shipyards and advanced manufacturing.

Viking Astrea vessel. Fincantieri launches Viking Astrea with liquid-hydrogen propulsion at Ancona shipyard  

54,300-gt cruise ship is designed for zero-emission operation using fuel cells.

Spirit of Toulouse vessel. Norsepower installs first rotor sail aboard methanol-powered ro-ro vessel built for Airbus charter  

The Spirit of Toulouse will carry six rotor sails alongside dual-fuel methanol engines on a transatlantic route.

Mercedes Pinto truck-to-ship (TTS) bunkering at S.C. de Tenerife. Baleària Canarias completes first truck-to-ship LNG bunkering for fast ferry at Tenerife  

Mercedes Pinto received around 600 MWh of LNG via two tanker trucks simultaneously.

O Bunkering logo. O Bunkering claims 15-minute marine lubricant delivery at Duqm  

Omani supplier says local stock enables rapid turnaround for vessel operators.


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