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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. .


Berge Lyngor alongside Sea Prosperity vessel. BHP and GCMD trial multi-feedstock B100 biofuel blend on bulk carrier voyage  

A pilot project tests blending used cooking oil and waste animal fats to broaden the supply base for marine biofuels.

IWSA logo. Wind-powered cargo ships pass 100-vessel mark as deployment accelerates  

The global fleet of wind-propelled commercial vessels has crossed the 100-ship threshold, with numbers doubling year-on-year.

Eirini Pasanta, Island Oil. Island Oil appoints Eirini Pasanta as communications manager  

Bunker firm strengthens its communications function with new appointment.

VBunkers logo. VBunkers seeks marine superintendent for Singapore bunker tanker operations  

Vitol's bunker tanker business is recruiting a marine superintendent to oversee its Singapore fleet.

Carnival Jubilee ship-to-ship LNG bunkering operation. First ship-to-ship LNG bunkering operation conducted in Roatán, Honduras aboard Carnival Jubilee  

Carnival Cruise Line engineer describes how milestone operation was conducted.

NYK Line car carrier render. NYK begins one-year B100 biofuel trial on car carrier  

Japanese shipping company NYK Line launches continuous 100% biofuel trial to assess long-term operational safety.

Caroline Yang, Hong Lam Marine. IBIA names Caroline Yang as chair of Asia regional board  

Hong Lam Marine CEO takes over from Capt. Rahul Choudhuri in leadership transition at the bunkering association.

Koki Harada, MOL. MOL outlines biomethane strategy and calls for cross-sector collaboration at Asia renewable gas conference  

Japanese shipping company MOL presents its bio-LNG approach and decarbonisation pathway at industry forum.

Maritime Technologies Forum (MTF) logo. MTF issues safety management guidelines for wind-assisted propulsion systems  

New guidelines aim to help shipping companies integrate WAPS into safety management systems.

MSC Maria Renata vessel. Changhong International delivers LNG dual-fuel boxship to MSC 159 days ahead of schedule  

The 10,300-teu MSC Maria Renata is designed to meet ammonia-ready and methanol-ready requirements.


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