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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.

Petrobras logo. Petrobras suspends MGO export sales following Brazilian government’s 50% export tax  

State oil company halts distillate fuel exports while assessing impact of new levy.
The LNG bunkering vessel Alisios LNG. Scale Green Energy launches 12,500-cbm LNG bunkering vessel in Spain  

Alisios LNG will supply marine fuel from the Huelva plant, chartered by Axpo Iberia.
The pure car and truck carrier Tourmaline Ace. Piraeus port signs LNG-fuelled car carrier deal with MOL  

Mitsui O.S.K. Lines' LNG-powered vessel made inaugural call at Greek port on 10 March.
Hydrogen ship render. DNV study recommends design-based safety approach for hydrogen-fuelled vessels  

Study for EMSA calls for secondary enclosures across all hydrogen components, including open deck.
The pure car and truck carrier Grande Seoul. Grimaldi takes delivery of ammonia-ready car carrier Grande Seoul  

Ninth vessel in series joins fleet for Asia-Europe service with 50% lower emissions.
Photograph of Oğuz Yazici, Country Manager at Oilmar DMCC. Oilmar appoints Turkey country manager as part of regional expansion  

Dubai-based bunker and cargo trader promotes from within to lead Turkish operations.
Photograph of the GNV Aurora ferry's first LNG bunkering in Genoa, in March 2026, with delivery tanker Green Zeebrugge alongside. GNV Aurora completes first LNG bunkering in Genoa  

GNV's second LNG-powered ferry receives fuel in Italian port, with a shore power trial scheduled.
Mitsui O.S.K. Lines (MOL) logo. MOL acquires 25% stake in V.Ships France, adds LNG carriers to managed fleet  

Japanese shipping company takes equity position in ship manager’s French subsidiary.
Equinor logo. Equinor signs two-year biomethanol supply deal with Wallenius Wilhelmsen  

Norwegian energy company to supply alternative fuel to shipping and vehicle logistics firm.
Phograph of Shanghai skyline with Oriental Pearl Tower in centre. Sing Fuels seeks bunker trader for new Shanghai base  

Candidates with two to four years’ industry experience and an established client portfolio preferred.

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