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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.

IBIA members meeting graphic. IBIA to host members meeting on mass flow meter survey findings  

Session on 14 May will examine global MFM implementation and fuel quality transparency.
Edmond Ow, GCMD. GCMD outlines phased approach to ammonia bunkering safety and operations  

Organisation details three-phase programme spanning 2023–2026 to address safety gaps in ammonia bunkering.
Johnson Matthey logo. Johnson Matthey to supply methanol technology for Liquid Sunshine biomethanol plant in China  

First phase aims for 75,000 tonnes annual capacity, with potential e-methanol expansion planned.
Classification certificate for methanol fuel bunkering vessels. CCS issues methanol and scrubber certifications at Singapore Maritime Week  

State-owned enterprise presents methanol classification certificate and approves open-loop exhaust gas cleaning system.
Houston skyline. Dan-Bunkering seeks senior fuel supplier for Houston office  

Marine fuel supplier is recruiting for a strategic role managing key accounts across the Americas oil and gas sector.
Monjasa logo. Monjasa reports $39m profit as marine fuel volumes hold steady at 6.8m tonnes  

Danish bunker supplier maintains volumes despite muted demand, with equity reaching $472m in 2025.
Seto Azure ship-to-ship (STS) LNG bunkering operation. Osaka Gas launches ship-to-ship LNG bunkering in Japan  

Japanese energy company now offers all three primary LNG fuel supply methods for vessels.
Gasum logo. Gasum converts to a public limited company to diversify financing options  

Finnish energy company changes legal structure from private to public limited liability company.
Legend of the Seas vessel. Meyer Turku secures Icon 6 and 7 cruise ship orders from Royal Caribbean  

Finnish shipyard to deliver two additional Icon Class vessels under framework agreement extending to 2036.
Ferry Propulsion Summit 2026. BC Ferries orders Everllence engines for four newbuild ferries  

Canadian operator selects 32/44CR engines for vessels designed to support future electric operations.

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