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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. .


GRSE and ONGC contract signing. GRSE signs contract with ONGC to build four hybrid platform supply vessels  

Indian shipbuilder adds offshore support vessels to its portfolio with hybrid propulsion contract for state oil firm.

Felicitas vessel. AMS Barging christens methanol-ready tanker as fleet reaches 17 vessels  

Dutch inland shipping company adds 9,000-cbm diesel-electric tanker Felicitas, designed for future conversion to methanol bunkering.

Estonia's fully-electric ferry render. Steerprop to supply next-generation CRP units for Estonia's first electric ferry  

Finnish propulsion specialist Steerprop will equip a CRIST-built electric ferry with upgraded contra-rotating propeller technology for the Estonian State Fleet.

BGN and HD HHI contract signing. BGN orders four more dual-fuel LPG carriers from HD Hyundai Heavy Industries  

New contract brings BGN's 2026 orders with HD HHI to 10 vessels and will increase its owned VLGC fleet to 23 ships.

Shenghang Yongle ship-to-ship (STS) bunkering operation. World's first ship-to-ship green ammonia bunkering operation completed in China  

Shenghang Yongle supplied 1,000 tonnes of green ammonia to CMB.Tech's Mineral Europa, connecting the fuel's full supply chain.

CMA CGM Lorenzaccio naming ceremony. 15,000-TEU methanol-powered boxship named CMA CGM Lorenzaccio  

French carrier adds literature-inspired vessel to its methanol-powered fleet for deployment on the REX2 service.

China Zorrilla vessel. Battery-electric ferries grow in scale as aluminium multihulls gain market share  

DNV highlights the rise of battery-electric aluminium ferries, spotlighting the delivery of the world's largest such vessel.

Bjorn Hauschild, IBT Bunkering & Trading. IBT Bunkering & Trading appoints Sales Support Specialist  

Björn Hauschild joins from shipyard broker CombiTrade.

Haiyang Shiyou 301 ship-to-ship (STS) LNG bunkering operation. CLPe and CNOOC complete Hong Kong's first LNG bunkering of a pure car and truck carrier  

Ship-to-ship operation delivered around 2,600 cbm of LNG to dual-fuel vessel AICC Fenghuang.

Mercuria logo. Mercuria seeks senior sales and account manager for bunker delivery platform  

Role can be based either remotely or at one of its offices in London, Geneva, Athens or Las Palmas.


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