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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. .


Decab Hub and MMMCZCS logos. Lloyd’s Register and Maersk Mc-Kinney Møller Center launch ammonia safety and training resources for shipping  

New tools aim to help operators build the safety management and competency frameworks needed for ammonia-fuelled vessels.

Kevin Dohmen, IBT Bunkering & Trading. IBT Bunkering & Trading appoints Kevin Döhmen to manage new Singapore office  

Döhmen tasked with developing IBT’s operation in the Asian city-state.

Peak Skarv 3 vessel. Peak takes delivery of third S-class vessel and cuts steel for ammonia-fuelled ship  

Norwegian operator marks two events at Chinese yard as ammonia-powered newbuild programme advances.

Launching ceremony of Minerva Helen. New Times Shipbuilding launches LNG dual-fuel tanker for Minerva  

112,500-dwt Minerva Helen launched at shipyard in Jiangsu, China.

Hansa Drejoe vessel. Leonhardt & Blumberg equips first of four newbuilds with Econowind VentoFoils  

German shipowner installs wind-assisted propulsion technology aboard general cargo vessel Hansa Drejoe.

Green Pearl vessel at Port of Civitavecchia. Axpo and Vitol launch LNG bunkering at the Port of Civitavecchia  

Operation marks the extension of Axpo’s LNG bunkering network to third major Italian port.

Grande Pacifico vessel. Grimaldi takes delivery of ammonia-ready Grande Pacifico  

9,800-ceu ship is the largest PCTC in the Neapolitan Group’s fleet and the first of five sister vessels on order.

Regional seminar on alternative fuels and new technologies. IMO seminar in Trinidad and Tobago trains Caribbean maritime educators for the alternative fuels era  

A five-day regional seminar in Port of Spain addressed ammonia, methanol and hydrogen training for seafarers.

Summit Arbutus vessel. Corvus Energy wins 40 MWh battery contract for BC Ferries’ new biofuel-compatible Summit Class vessels  

Norwegian battery supplier to power four new hybrid-electric ferries for Canada’s BC Ferries.

Fleetzero Leviathan Battery Energy Storage System (BESS). ABS issues product design assessment for Fleetzero’s Leviathan battery system  

The first US-manufactured lithium iron phosphate marine battery system receives classification society approval.


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