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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. .


Meera naming ceremony. Naming ceremony held for LPG dual-fuel ammonia carrier  

VLAC Meera named during event held in China on 10 July.

IMO Council 137th session IMO adopts Singapore-led resolution on protection of shipping lanes  

Thirty co-sponsors back a resolution reaffirming navigational rights under international law.

TT-Line Green Ship 2.0 illustration. TT-Line orders second LNG-hybrid battery ferry for Baltic Sea operations  

German ferry operator doubles down on LNG-hybrid technology with a second next-generation newbuild.

CMA CGM Notre Dame and Gas Agility ship-to-ship (STS) bunkering operation. CMA CGM Notre Dame receives first European bio-LNG bunkering during Rotterdam maiden call  

LNG-powered container ship takes on bio-LNG derived from agricultural waste.

Carnival Destiny steel-cutting ceremony. Fincantieri marks 30 years with Carnival as steel cutting begins for new LNG-powered Carnival Destiny  

Italian shipbuilder Fincantieri has begun construction of the first of three new Ace-class ships for Carnival Cruise Line.

Svitzer Thames vessel. DP World and Svitzer bunker first HVO-fuelled harbour tug at London Gateway  

Carbon inset scheme expands as tug switches from marine diesel to HVO.

CM Shenzhen and Da Qing 268 ship-to-ship (STS) bunkering operation. Venture Energy and Sinopec HK complete 'Hong Kong’s largest ever green bunkering'  

Delivery of 1,000 tonnes of methanol to ro-ro vessel hailed as new record for Hong Kong.

Soo Yong Koo, Seascale Energy. Seascale Energy appoints Soo Yong Koo as business development director  

Industry veteran hired to drive customer growth in Asia and beyond.

Arctic Tern vessel. Wallenius Wilhelmsen takes delivery of first methanol-ready Shaper Class vessel  

The dual-fuel Arctic Tern will enter service on the Asia–Europe trade almost immediately.

Al Muraykh vessel. Hapag-Lloyd signs shore power agreement with Hamburg Port Authority  

Deal commits the carrier to using onshore power supply at all Hamburg terminals.


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