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Tue 9 Jan 2018 09:22

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. .

Singapore Port viewed from The Pinnacle@Duxton. Singapore marine fuel sales dip 1.2% in October  

First YoY decline since February as sales of best-selling product fall despite bunker calls rising to second-highest level in port's history.
Daria Sukhanova, PMG Energies. PMG Energies appoints Daria Sukhanova as bunker trader  

Marine fuel business adds trader with over five years of experience to its team.
CMA CGM Salamanque vessel alongside Edison's Ravenna Knutsen vessel. CMA CGM and Edison complete Italy's first STS LNG bunkering for a boxship  

Ship-to-ship operation marks the first time LNG has been delivered to a container vessel in the Adriatic.
Simona Toma, Columbia Group. Columbia Group prioritizes LNG training to build seafarer competence  

Ship manager says LNG knowledge will form the foundation for working safely with future fuels.
Methanol fuel safety guidelines graphic. ClassNK updates methanol fuel guidelines as alcohol-fuelled ship orders rise  

Japanese classification society releases revised safety requirements for methyl and ethyl alcohol-fuelled vessels.
Island Oil Holdings logo. Island Oil seeks front office administrator in Limassol  

Cyprus-based bunker supplier and trader advertises role with benefits including provident fund.
NSU Tubarao vessel. Anemoi completes rotor sail installation on 400,000 DWT ore carrier  

UK firm fits five 35m-tall units on NS United vessel, targeting 6-12% fuel savings.
Liberty Marine Fuels 10-year anniversary graphic. Liberty Marine Fuels marks 10 years in bunker brokering  

Aalborg-based bunker broker celebrates a decade of operations connecting shipowners, charterers, and suppliers.
Charis Chartosias, Island Oil. Island Oil appoints Charis Chartosias as Commercial Development Manager  

Marine fuel trader brings over 14 years' experience to Limassol-based company.
Amalie Møller Simonsen, Malik Supply. Malik Supply appoints HR consultant to support organisational development  

Danish marine fuel trader hires Amalie Møller Simonsen with HR experience at Gjensidige and Netcompany.

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