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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. .


Yanmar Maritime awarded DNV type approval for fuel cell system. Yanmar Maritime receives DNV type approval for hydrogen fuel cell system at SMM  

The GH-FC series certification is aimed at easing adoption of hydrogen propulsion across vessel types.

Euwyn Tan, Flex Commodities. Flex Commodities appoints senior marine fuels trader in Singapore  

Euwyn Tan joins Flex Commodities FZCO to strengthen its marine fuels trading operations in Asia.

Closing ceremony of vessel with builder's hull no. 0208121. LNG dual-fuel boxship handed over to Eastern Pacific Shipping  

Closing ceremony held in Jingjiang for 8,400-TEU container vessel.

Everllence's 175D high-speed engine render. Everllence and Damen sign framework agreement for serial supply of 175D engines  

Agreement covers high-speed engine supply for Damen’s fuel-flexible tug programme and beyond.

IINO Lines and BGN signing. IINO Lines signs time charter deal with BGN for LPG dual-fuel VLGC  

Japanese shipowner’s fourth LPG dual-fuel vessel will offer rare dual-canal Panama Canal transit capability.

Lubmarine drum. TotalEnergies Lubmarine launches fuel-economy lubricant for four-stroke medium-speed marine engines  

Aurelia FE claims fuel savings of 1.5% on a standardised test cycle, with no vessel modifications required.

Sunrui and Lloyd’s Register at SMM 2026. LR validates CFD analysis for SunRui suction sail technology  

Independent verification confirms aerodynamic modelling meets recognised industry standards for wind-assisted propulsion.

Orlen and Port of Gdynia partnership signing. Orlen and Port of Gdynia partner to explore LNG and bio-LNG bunkering options  

Agreement signed to assess LNG and bio-LNG bunkering potential along the Polish coast.

North Sea Trading logo. North Sea Trading appoints head of renewable fuels and signs India green methanol MoU  

Industry veteran Robert Preston joins Bournemouth-based bunker trading firm.

Windward Hamburg vessel. VARD delivers final CSOV to Windward Offshore, completing series  

Methanol-ready Windward Hamburg joins the fleet as VARD completes delivery of four purpose-built CSOVs.


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