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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.

Map showing existing and planned Emission Control Areas (ECAs). IMO adopts Northeast Atlantic ECA covering waters from Portugal to Greenland  

New ECA to enter into force in September 2027, connecting existing European zones with Canadian Arctic waters.
Renewable and low-carbon methanol project pipeline chart as of April 2026. Renewable methanol project pipeline reaches 61 MMT as China groundbreakings accelerate  

GENA Solutions reports pipeline growth despite concerns over construction readiness for Chinese projects.
Rendering of a diesel-electric chemical tanker. Berg Propulsion to supply propulsion system for Akdeniz-built chemical tanker  

Turkish shipyard Akdeniz orders diesel-electric propulsion package for an 8,000-dwt vessel destined for Transka Tankers.
Ningyuan Diankun vessel. China Classification Society certifies 740-teu pure-electric container ship  

Ningyuan Diankun features battery-swapping capability and is claimed to eliminate 1,462 tonnes of CO2 annually.
UK ETS and FuelEU Maritime event graphic. Lloyd’s Register to host UK ETS and FuelEU Maritime briefing in London  

Event on 12 May will examine maritime emissions regulations ahead of UK ETS expansion.
Ruri Planet vessel. Japanese shipbuilder delivers dual-fuel LNG bulk carrier Ruri Planet  

The 209,000-tonne Capesize vessel can run on heavy fuel oil or LNG.
L&T Energy GreenTech and Itochu agreement signing. L&T Energy GreenTech signs 300,000-tonne green ammonia supply deal with Itochu  

Indian firm to supply Japanese trading house from planned Kandla facility for marine fuel applications.
CMA CGM Iron vessel. Methanol-powered container ship is named CMA CGM D’Artagnan  

French shipping group adds vessel to methanol fleet as part of net-zero target.
Maersk Tahiti vessel. Bound4blue completes second suction sail installation for Maersk Tankers  

Four 24-metre eSAIL units fitted on Maersk Tahiti at Chinese shipyard in April.
Aerial view of Port of Yokohama. Asia-Pacific ports advance cross-sector hydrogen and e-fuel infrastructure  

Accelleron report highlights a coordinated approach combining energy, industry and shipping demand to stimulate market development.

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