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Tue 13 Mar 2018, 12:27 GMT

Oil dropped slightly yesterday, but continues to trade in tight range


By A/S Global Risk Management.

Michael Poulson, Global Risk Management.
Image credit: Global Risk Management
Tonight, the weekly oil stocks data from the American Petroleum Institute (API) will be followed closely for hints of U.S. oil inventory growth/decrease ahead of another inventory report from the Energy Information Administration (EIA) on Wednesday.

The EIA yesterday in its monthly productivity report said that it expects U.S. crude oil production to continue the increase next month, climbing by 131,000 barrels per day for the 7 largest oil plays.

In Libya, a strike at an oil port that exports crude from the huge El Sharara oil field delays loading. Allegedly, negotiations for a solution are ongoing. The strike comes after two large oil fields went offline earlier this month due to pipeline disruptions. Oil production in the country remains fragile.

Turning to economic data, today sees U.S. inflation numbers, the commencement of EU Finance Ministers meeting and overnight, Chinese Industrial Production data and Japan Monetary Policy Meeting Minutes.

Graphic of the ABS logo with a blue background and light effects over a globe. ABS consortium delivers ammonia fuel safety report for EMSA  

Report expands on IMO interim guidelines and highlights need for comprehensive understanding of ammonia properties.
Green Future vessel. NYK operates methanol-fuelled bulk carrier for BHP, claims 65% emissions cut  

Green Future becomes first oceangoing bulk carrier to use low-carbon methanol fuel.
Genesis Sea vessel. Ulstein Verft completes sea trials for Genesis Sea CSOV ahead of spring delivery  

The 89.6-metre vessel features hybrid battery propulsion and preparations for green methanol operation.
S-4L waterjet render. Kongsberg Maritime launches S-4L waterjet series with Gotland ferry order  

Hydrogen-ready Horizon X ferry to feature new propulsion technology on Swedish route.
Annual Capital Link Forum in Athens. ECSA calls for EU to withdraw shipping legislation once IMO reaches global agreement  

European shipowners' association urges Commission to clarify that regional measures are transitional pending an international framework.
QRDI Grant Award event. CircleProcess Technologies wins Qatar grant for onboard LNG-to-hydrogen conversion project  

Project ReformLNG aims to convert LNG into hydrogen fuel and solid carbon onboard vessels.
Two people shaking hands with Uni-Fuels seeks bunker traders for Dubai operations  

Nasdaq-listed marine fuel provider advertises positions as part of team expansion in the UAE.
Working meeting at the headquarters of Puertos del Estado. Spain nears completion of standardised LNG bunkering specifications framework  

Document aims to harmonise LNG and bioLNG supply procedures across Spanish port authorities.
YM Willpower vessel. Synergy Marine Group takes technical management of two Yang Ming LNG dual-fuel newbuilds  

Singapore-based ship manager assumes responsibility for 15,500-teu container vessels delivered from Hyundai Heavy Industries.
Plate cutting ceremony for Horizon X vessel. Austal begins construction of hydrogen-ready ferry for Swedish operator  

Shipbuilder cuts first steel for 130-metre Horizon X vessel at Philippines facility.

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