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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. .


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Höegh Starlight used 11 kV shore power in Zeebrugge, allowing it to switch off its auxiliary engines while alongside.

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Lars Malmbratt, ScanOcean. ScanOcean appoints Lars Malmbratt as senior commercial manager  

Swedish firm strengthens commercial team with experienced industry executive based in Gothenburg.

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Sea Horizon joins Singapore’s harbour craft fleet.

Ocean Breeze vessel. Sallaum Lines orders LNG-fuelled, ammonia-ready PCTCs from Chinese yards  

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Acta Hercules naming ceremony. Acta Marine christens methanol dual-fuel vessel Acta Hercules in IJmuiden  

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Maran Melina vessel. Angelicoussis Group takes delivery of fifth dual-fuel Suezmax tanker  

Maran Tankers Management adds the 155,500-DWT Maran Melina to its fleet.


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