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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. .


Professor Lynn Loo, GCMD. Project CAPTURED secures EU ETS recognition and IMO support for onboard carbon capture pathway  

Two regulatory developments strengthen the commercial case for onboard carbon capture and storage at sea.

Vard 9 601 design render. Vard wins €220m contract to build methanol-ready vessels for Trinity House  

Norwegian shipbuilder Vard will replace two ageing Trinity House vessels with hybrid-powered successors.

Sunoco LP logo. Sunoco seeks bunker trader for 'front-line' role to expand marine fuels business  

Professional sought with at least two years' experience in bunker trading or marine fuels commercial sector.

Seaway vessel. Royal IHC delivers methanol-ready TSHD to Boskalis  

The 31,000-cbm Seaway is among the largest trailing suction hopper dredgers in the world.

Ocean Navigator vessel. LNG-powered MV Ocean Navigator completes sea trial ahead of August delivery  

Sallaum Lines ro-ro vessel due to enter commercial service next month.

EmissionLink logo. FuelEU surplus price drop could undermine fuel transition, warns EmissionLink  

Falling compliance costs may discourage real uptake of lower-carbon fuels, the company cautions.

Port of Hamburg. Port of Hamburg moves towards ammonia bunkering readiness with new safety framework  

Hamburg and MB Energy develop risk analysis and safety concept for ammonia ship-to-ship bunkering.

CMA CGM Pantheon naming ceremony. CMA CGM names 24,000-teu LNG-powered vessel CMA CGM Pantheon  

Vessel is a sister ship to CMA CGM Notre Dame and will serve the Asia–Northern Europe trade lane.

Kota Ocean vessel. PIL hiring head of marine fuel procurement in Singapore  

Role requires at least 10 years’ experience in bunkering, shipping or energy sectors.

Arctic Tern and Hai Gang Zhi Yuan STS bunkering operation. EUKOR’s new car carrier completes first biomethanol bunkering at Shanghai on maiden voyage  

EUKOR, SIPG Energy and World Fuel deliver 2,800 tonnes of waste-derived biomethanol to the first Shaper Class vessel.


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