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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. .


World Fuel logo. World Fuel seeks marine fuel sales executive in Singapore  

Role requires more than five years' experience in bunkering, trading, energy or commodities.

Th'ailib vessel. MISC names first of three new LNG carriers for QatarEnergy charter deal  

Th'ailib, chartered to QatarEnergy for 15 years, extends MISC's long-term LNG fleet partnership with the energy producer.

Svitzer TRAnsverse tug render. AYK Energy to supply batteries for Kongsberg Maritime’s electric Svitzer tugs  

Battery maker AYK Energy expands its workboat portfolio with a deal to power four fully electric Svitzer TRAnsverse tugs.

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Keel-laying ceremony of Disney Believe. Keel-laying ceremony held for LNG-powered Disney Believe at Meyer Werft  

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RINA and PTT MoU signing. RINA and Thailand’s PTT sign MoUs to collaborate on decarbonisation technologies  

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IBIA logo. IBIA to host ethanol marine fuel workshop in New York  

Limited-capacity session will examine ethanol’s commercial, technical and regulatory prospects as a shipping fuel.

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DNV approval confirms the safety and performance of Corvus Energy’s large-scale battery system for ferries, cruise ships and offshore vessels.

Jessie Ng, PMG Energies. PMG Energies appoints Jessie Ng as bunker trader in Singapore  

Bunker firm adds experienced trader to Singapore team.

Hapag-Lloyd vessel Seaspan Amazon during a bunkering operation. Hapag-Lloyd completes simultaneous-operations biomethanol bunkering in Busan  

Container line bunkers ISCC EU-certified biomethanol from Goldwind during SIMOPS, advancing its 2024 supply agreement.


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