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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.

WinGD methanol and ethanol webinar invitation. WinGD to host webinar on methanol- and ethanol-flexible fuel engine technology  

Engine manufacturer will discuss market outlook, regulations and operational experience with alcohol-based marine fuels.
Peninsula graduate programme group photo. Peninsula opens applications for 2026 graduate programmes in marine fuels trading  

Two-year scheme offers positions across six global locations starting in September, combining hands-on experience with structured development.
Collin She, Oilmar DMCC. Oilmar DMCC promotes Collin She to key account manager role  

She will lead strategic customer relationships and drive growth opportunities in Singapore and the wider region.
Areion vessel. Dorian LPG takes delivery of dual-fuel VLGC capable of carrying ammonia  

The 93,000-cbm Areion can run on LPG or fuel oil and transport ammonia cargoes.
FSRU Toscana alongside Green Zeebrugge vessel. RINA awards ISCC EU certification to OLT Offshore LNG Toscana for bio-LNG supply  

Certification enables bio-LNG use in the EU as a renewable fuel under RED II and RED III directives.
World Shipping Council at IMO meeting. WSC calls for safe maritime corridor as 20,000 seafarers remain trapped in the Persian Gulf  

Industry body urges IMO member states to establish safe passage and supply access.
Graphic promoting Auramarine webinar titled 'Sustainable Fueling Part 3: Ammonia - next alternative fuel in marine'. Auramarine to host webinar on ammonia as marine fuel in April  

Finnish firm will explore ammonia’s role in maritime decarbonisation at its third spring webinar.
Front cover of study by WinGD and Envision Energy titled 'Renewable Fuel Economics: An OPEX illustration based on current costs'. Green ammonia could reach cost parity with VLSFO and LNG by 2050, study finds  

WinGD and Envision Energy study projects green ammonia operational costs competitive with conventional marine fuels.
Elenger Marine's LNG bunkering vessel Optimus alongside Brittany Ferries’ Saint-Malo. Bureau Veritas verifies methane emissions on Brittany Ferries’ LNG vessels  

Verification enables ferry operator to report measured methane slip instead of regulatory default values.
Map showing existing and planned Emission Control Areas (ECAs). Alliance calls for urgent black carbon action as new Arctic emission control areas take effect  

Canadian Arctic and Norwegian Sea ECAs now in force, with compliance deadline set for March 2027.

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