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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. .


Houston skyline at night. JuWonOil looking to strengthen with two Houston hires  

Texas-based firm is recruiting a marine lubricants sales executive and a marine fuels and distillates trader.

Lloyd's Register (LR), Seapeak, Kongsberg Maritime and Tunable JDP launch. Four firms partner to trial continuous emissions monitoring on LNG carrier  

LR, Seapeak, Kongsberg Maritime and Tunable will test onboard CO₂ monitoring against engine data and default emissions factors.

Bunker Holding logo. Bunker Holding reshuffles commercial leadership across brand portfolio  

Appointments announced across KPI OceanConnect, Glander International Bunkering and its digital sales operations.

Design Appraisal (DA) awarding ceremony for an LNG carrier design. Lloyd's Register grants design appraisal for wind-powered LNG carrier concept  

Vessel design featuring four Wind Challenger sails moves closer to commercial deployment.

Society for Gas as a Marine Fuel (SGMF) logo. SGMF publishes first ISO-compliant life cycle assessment of methanol as a marine fuel  

Study evaluating 15 production pathways completes organisation’s suite of LCAs covering LNG, ammonia and methanol.

AiP award ceremony for 271,000-cbm LNG carrier (LNGC) design. DNV grants approval in principle for HD HHI’s 271,000-cbm LNG carrier design  

Classification society backs Hyundai’s largest LNG carrier design yet, featuring five membrane tanks and dual-fuel propulsion.

GTT logo. GTT Energy launches new LNG fuel tank design for container ships  

'Next-generation' LNG fuel containment system features 2 barg technology.

Flex Commodities logo. Flex Commodities seeks operator for bunker trading operations  

Candidates should have three to five years of relevant bunker or commodity trading operations experience

Glander International Bunkering logo. Glander International Bunkering seeks bunker trader for Valencia office  

Role open to sales professionals regardless of prior oil industry experience.

Frankie Russ vessel. TB Marine takes over technical management of methanol-ready tanker  

Newbuild MT Frankie Russ is first tanker in Ernst Russ's fleet.


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