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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. .


Delivery ceremony of Maran Myrto vessel. New Times Shipbuilding cuts steel on two crude tankers and delivers LNG dual-fuel vessel  

Chinese yard marks a busy 4 June with steel-cutting ceremonies and a tanker delivery to Maran.

Christening ceremony of Mercedes Pinto vessel. Baleària Canarias christens €128m dual-fuel fast ferry Mercedes Pinto for inter-island routes  

The catamaran will connect Tenerife, Gran Canaria and Fuerteventura with six daily departures.

AiP award ceremony for LPG dual-fuel 1,400-teu container vessel design. DNV awards AiP to HHI for LPG dual-fuel container vessel design  

Approval in principle granted for ship design targeting the underserved smaller container segment.

Olivier Josse, Alberto Pérez Espinosa and Luke Shu. Seascale Energy partners with Lloyd’s Register Advisory to build decarbonisation expertise  

The bunker firm has launched a knowledge partnership covering low-carbon fuels and maritime regulations.

CSL Kuleana vessel. CSL takes delivery of methanol-ready Kamsarmax as fleet renewal programme advances  

MV CSL Kuleana departs on maiden voyage, equipped with Tier III engines.

Peter Keller, SEA-LNG. LNG orderbook share hits 90% as methane pathway investment holds firm  

LNG bunkering volumes surge and biomethane uptake grows six-fold, despite geopolitical headwinds.

Vessel at sea with Graphyte and NYK Line logos. NYK to offset ship emissions with CDR credits from Loblolly project  

Japanese shipping group turns to biomass-based carbon sequestration to address residual maritime emissions.

Close-up view of a KESS vessel. K Line orders four LNG dual-fuel car carriers for European short-sea operations  

Kawasaki Kisen Kaisha contracts quartet of 1,380-vehicle vessels at China Merchants Jinling Shipyard.

Bunge logo. Bunge seeks bunker purchaser for Rotterdam operation  

Agribusiness is looking for candidates with experience in marine fuel procurement.

Launching ceremony of a 38,000-dwt chemical tanker with hull no. XY169. First vessel in NYK Stolt Tankers’ newbuild series launched in China  

FKAB-designed 38,000 DWT chemical tanker launched at Nantong Xiangyu Shipyard, China.


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