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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.

Bunker Holding logo. Bunker Holding seeks student assistant for IT governance and contract team  

Danish marine fuel supplier recruits part-time student for IT governance role in Middelfart.
Maya Cosulich vessel at the Port of Ceuta during welcome ceremony. Vilma Oil Med deploys methanol-capable bunker tanker at Ceuta  

Maya Cosulich can carry methanol and biofuels, features dual-fuel capability and mass flow meter technology.
Claudene Sharp-Patel, Lloyd's Register. Anemoi Marine Technologies appoints Lloyd’s Register technical director to oversight committee  

Claudene Sharp-Patel brings maritime operational expertise to guide wind-assisted propulsion development.
Yanmar hydrogen engine test facility render. Yanmar to build hydrogen engine test facility in Japan by 2029  

Japanese engine manufacturer acquires land for new factory to develop next-generation marine fuel technologies.
M/T Aristotelis II vessel. Capital Ship Management takes delivery of LNG-ready VLCC from Chinese yard  

The 307,000-dwt Aristotelis II features energy-saving devices and scrubber technology.
Anthi S Tsigkou, Flex Commodities. FLEX Commodities appoints Anthi Tsigkou as general counsel  

Dubai-based trader brings in maritime law specialist with more than 15 years of industry experience.
RINA logo. RINA releases white paper on low-carbon fuels for maritime and aviation decarbonisation  

Classification society examines biofuels, hydrogen and e-fuels as regulatory frameworks accelerate compliance timelines.
Rob Mortimer, CEO of FuelRe4m. Fuelre4m fuel treatment achieves 8.7% consumption cut in Voyage Marine engine trial  

Re4mx Diesel product also delivered 5% bollard pull increase in 12-hour test on twin-engine vessel.
LPC and Gram Marine launch operations in Argentina graphic. Gram Marine delivers first marine lubricants in San Lorenzo  

Operation follows recent strategic partnerships with LPC and Servi Río.
Halten Bulk wind-assisted vessel render. Halten Bulk orders wind-assisted bulk carriers with rotor sails from Chinese yard  

Norwegian operator contracts two vessels with options for two more at SOHO Marine.

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