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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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Chinese yard starts work on first of 18 vessels in order from new customer.

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Japanese shipowner details mechanism to verify, certify and fund use of biomethanol and other low-carbon fuels.

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Sommer Mitchel, IBIA. IBIA appoints Sommer Mitchell as marketing and events coordinator  

Mitchell brings more than five years of experience to the marine fuels industry association.

Lazulite Ace vessel. MOL's 12th LNG dual-fuel car carrier makes maiden call in Singapore  

Lazulite Ace arrives in Singapore following delivery from Japanese shipyard in March.

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Second hydrogen-fuelled vessel in Viking series scheduled for delivery in 2027 from Ancona yard.


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