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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. .


Chang Ping Yuan vessel. Cosco Shipping names 88,000-cbm VLGC Chang Ping Yuan with dual-fuel LPG propulsion  

Owner claims 20% CO₂ reduction and Panama Canal compatibility across both lock systems.

World Fuel logo. World Fuel seeks senior marine fuels sales executive in London  

Position requires minimum of 10 years' experience in marine fuels, marine energy, or shipping.

Amogy and LOTTE Fine Chemical MoU signing. Amogy and LOTTE Fine Chemical sign MoU to advance ammonia solutions in South Korea  

Partnership structured around ammonia bunkering, hydrogen refuelling infrastructure, and distributed ammonia-to-power generation.

WinGD X72DF-ME engine render. WinGD wins order for dual-fuel alcohol engines for Polaris Shipping Newcastlemax fleet  

Four-engine order giving shipowner methanol and ethanol fuel flexibility.

Trelleborg Marine and Infrastructure logo. Trelleborg and Simwave launch LNG transfer equipment training programme at Gastech 2026  

New e-learning programme aims to close crew competency gaps as LNG bunkering grows and alternative fuels enter service.

Toho Emerald vessel. K Line names dual-fuel LNG carrier Toho Emerald at Samsung Heavy Industries yard  

174,000-cbm vessel, built for a joint venture with Toho Gas, is due for delivery next month.

Fujin Sailor vessel. MOL names world’s first LNG carrier fitted with wind-assisted propulsion for Chevron charter  

Fujin Sailor is also the first vessel of any type to carry two Wind Challenger units.

Steve Esau, Sea-LNG. SEA-LNG urges EU to protect mass-balance pathway for liquefied biomethane  

Industry coalition warns regulatory missteps could undermine LBM's rapid growth in maritime.

Luxomar delivery ceremony. ESL Shipping completes Green Coaster fleet with delivery of twelfth vessel Luxomar  

Baltic dry bulk carrier has finalised a twelve-vessel plug-in hybrid coaster programme built in India.

Hybrid ro-ro vessel render. Compagnie Maritime Nantaise orders hybrid ro-ro vessel for European space cargo runs  

French shipping company commissions wind-assisted vessel with biofuel capability to serve growing European space industry.


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