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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. .

Christiania Energy headquarters. Christiania Energy relocates headquarters within Odense Harbour  

Bunker firm moves to larger waterfront office to accommodate growing team and collaboration needs.
AiP award ceremony for 20K LNGBV design. HD Hyundai Heavy Industries receives design approval for 20,000-cbm LNG bunkering vessel  

Bureau Veritas grants approval in principle following joint development project with South Korean shipbuilder.
Lloyd’s Register technical committee meeting in Spain. Peninsula outlines dual role in FuelEU Maritime compliance at Lloyd’s Register panel  

Marine fuel supplier discusses challenges for shipowners and opportunities for suppliers under new regulation.
Current status of fleet fuel types chart. LNG-fuelled container ships dominate January alternative-fuel vessel orders  

Container ships accounted for 16 of 20 alternative-fuelled vessels ordered in January, DNV reports.
Rick Boom, CIMAC and Professor Lynn Loo, GCMD. GCMD and CIMAC sign partnership to advance alternative marine fuel readiness  

Two-year agreement aims to bridge operational experience with technical standards for decarbonisation solutions.
Renewable and low-carbon methanol project pipeline chart as of January 2026. Renewable methanol project pipeline reaches 58.2m tonnes by 2031, GENA reports  

Project Navigator Methanol tracks 275 projects, including e-methanol, biomethanol and low-carbon methanol facilities globally.
Petrobras logo. Petrobras adjusts bunker pricing and minimum order volumes at Santos  

Brazilian supplier discontinues volume discount tier and lowers minimum order quantity from 1 March.
Viking Grace vessel. Viking Line secures biogas supply for 2026 after tenfold increase in biofuel use  

Åland-based ferry operator aims to maintain 50% biogas blend throughout the year on two vessels.
GNV Aurora vessel. GNV takes delivery of second LNG-powered vessel Aurora from Chinese shipyard  

Vessel to enter service on Genoa–Palermo route in April, completing first fleet renewal phase.
Tangier Maersk vessel. Maersk takes delivery of first methanol-capable vessel in 9,000-teu series  

Tangier Maersk is the first of six mid-size container ships with methanol-capable dual-fuel engines.

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