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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. .


Port of Singapore. Trailing 3-month bunker sales fall to lowest since April 2025 in Singapore  

Bunker volume of 13.569m tonnes sold between April and June was worst three-month result in 14 months.

Glander International Bunkering logo. Glander International Bunkering reports $23.4m pre-tax earnings amid volatile shipping markets  

Bunker trading company says new fuels volumes doubled over the past year, driven by client demand.

Aerial view of tanker vessel at sea. ISO-compliant fuels increasingly causing operational problems, Lloyd’s Register warns  

Latest FOBAS report finds fuel quality risk shifting beyond off-specification fuels.

Bioethanol bunkering at the Port of Santos. Bunker One completes Latin America’s first bioethanol bunkering of a deep-sea container vessel  

500,000-litre delivery at Santos marks a first for bioethanol as a marine fuel.

Maritime Technologies Forum (MTF) logo. MTF issues safety management guidelines for methanol-fuelled ships  

New MTF report offers recommendations for developing and strengthening safety management systems for methanol as a fuel.

Kapitan Dranitsyn icebreaker. European shipowners call for permanent EU ETS derogations for islands, outermost regions and ice-classed vessels  

ECSA urges the European Commission to extend maritime ETS exemptions beyond 2030 ahead of directive revision.

Global Maritime Forum logo. Compliance pooling could help unlock investment in zero-emission marine fuels, says Getting to Zero Coalition  

A new insight brief argues pooling models must evolve to support long-term e-fuels offtake.

Levante LNG and Legend of the Seas STS bunkering operation. Peninsula performs maiden bio-LNG delivery in Cádiz  

Bunker firm has now supplied all three of Royal Caribbean Group’s Icon-class vessels with bio-LNG.

Shawn Ho, Oilmar. Oilmar appoints Shawn Ho as senior manager for business development and bunker trading in Singapore  

Marine fuel seller hires experienced industry professional to bolster its Singapore operations.

Island Horizon vessel. Island Oil expands fleet with acquisition of two tankers for Mediterranean operations  

Island Polaris and Island Horizon join bunker firm's fleet of vessels.


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