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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. .


Electric tug render. Echandia wins battery contract for two electric tugs under India’s Green Tug Transition Programme  

Swedish battery maker secures second and third electric tug contracts in India’s port decarbonisation drive.

Grande Istanbul presentation ceremony. Grimaldi presents ammonia-ready car carrier Grande Istanbul at Turkish port ceremony  

Vessel is one of 17 next-generation PCTCs commissioned by the Italian shipping group.

Archigos vessel. Capital Ship Management takes delivery of methanol-ready Suezmax tanker Archigos  

The 157,000-dwt vessel, built in South Korea, features AI-assisted navigation and energy-saving technology.

Molgas truck-to-ship bunkering operation. Molgas secures 10-year LNG truck-to-ship licence at the Port of Bilbao  

Spanish energy group obtains decade-long operating licence for LNG bunkering operations.

CMA CGM Notre Dame vessel. CMA CGM names world’s largest LNG-powered containership in Le Havre  

The CMA CGM Notre Dame is formally welcomed into the French carrier’s fleet.

International Maritime Organization (IMO) headquarters. IMO calls for speaker nominations for ammonia-as-fuel technical seminar  

Nomination deadline for upcoming ammonia marine fuel seminar in London is 17 July.

OOCL Wisdom ship-to-ship (STS) bunkering operation. OOCL Wisdom completes ‘first green methanol bunkering’ at Qingdao Port  

Vessel, claimed to be the world's largest methanol dual-fuel container ship, sets sail on maiden voyage to Europe.

Dubai skyline. Oilmar seeks senior bunker trader for Dubai office  

Experienced trader with proven P&L responsibility sought by UAE-headquartered firm.

CFD simulation of vessel with three eSAILs. ABS reviews bound4blue’s Pwind calculation methodology for eSAIL wind propulsion systems  

Independent review aims to ease regulatory compliance and accelerate adoption of suction sail technology.

Port of Rotterdam aerial view. Port of Rotterdam appoints new programme manager for bunkering  

Astrid Sonnevelt has a background in renewable products, business development and emissions reduction.


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