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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. .


LPC and Gram Marine launch operations in Argentina graphic. Gram Marine delivers first marine lubricants in San Lorenzo  

Operation follows recent strategic partnerships with LPC and Servi Río.

Halten Bulk wind-assisted vessel render. Halten Bulk orders wind-assisted bulk carriers with rotor sails from Chinese yard  

Norwegian operator contracts two vessels with options for two more at SOHO Marine.

IBIA and Baltic Exchange logo side by side. IBIA introduces enhanced KYC framework for membership applications  

Trade association to use Baltic Exchange platform for sanctions screening and company verification.

Servi Río logo. Servi Río joins Gram Marine and Cyclon alliance for Argentina lube operations  

Argentine company to provide storage and transportation services for lubricant products in local market.

IMO Technical Seminar on Marine Biofuels. IMO seminar examines biofuels’ role in maritime decarbonisation  

Event drew 700 in-person and virtual participants, with 1,300 more following the online broadcast.

Wilhelmshaven Express, Hapag-Lloyd. Hapag-Lloyd to acquire ZIM for $4.2bn in cash deal  

German container line signs agreement to buy Israeli rival, subject to regulatory approvals.

VPS Maress 2.0 digital dashboard interface displayed on a monitor. VPS outlines key features of Maress 2.0 with enhanced analytics for offshore vessel efficiency  

Updated platform adds data validation, energy flow diagrams and fleet comparison tools for decarbonisation monitoring.

Two vessels at sea. IMO committee agrees NOx certification rules for ammonia and hydrogen engines  

DNV reports PPR 13 also advanced a biofouling framework and crude oil tanker emission controls.

Chart showing TTM and T3M bunker sales in Singapore, Jan 2024-Jan 2026. Singapore bunker sales set new record as TTM volumes surpass 57.5 tonnes  

Rolling 12-month bunker sales at the Port of Singapore have reached a fresh all-time high, breaking above 57.5 million tonnes for the first time, alongside a record surge in short-term demand.

Kota Odyssey vessel. PIL’s LNG-powered Kota Odyssey makes maiden call at Saudi Arabian port  

Container vessel marks first entry into the Red Sea with call at Red Sea Gateway Terminal.


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