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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.

New Sea Generation (NSG) logo. New Sea Generation processing applicants for Greece bunker trader role  

Bunker firm offering a performance-based equity stake to experienced traders with active client portfolios.
Port of Barcelona. Spanish ports see fourfold increase in LNG bunkering volumes over two years  

Renewable bioLNG accounted for 12% of marine fuel supplied in 2025, Gasnam data shows.
ICS Deck Procedures Guide cover. ICS releases deck procedures guide covering alternative fuel bunkering  

Publication completes trilogy of operational guides alongside bridge and engine room resources.
Torbjörn Bäck, Echandia. Echandia to supply 3 MWh battery system for Singapore harbour tugboat  

Swedish firm wins contract as part of Singapore's plan to electrify harbour craft by 2030.
Golden Antares and Brave Pioneer methanol bunkering. Singapore completes first methanol bunkering operation following licence awards  

Golden Island delivers 300 tonnes of methanol to dual-fuel vessel in port’s inaugural operation.
MT SPA vessel. Union Maritime takes delivery of world’s first LNG- and wind-powered LR2 tanker  

MT SPA features dual-fuel capability and WindWings technology, with second sister vessel on order.
Petrobras and Transpetro signing ceremony. Petrobras and Transpetro order 41 vessels worth $470m for fleet renewal  

Brazilian state oil companies contract gas carriers, barges and pushboats from domestic shipyards.
European Commission headquarters. EU proposes phase-out of high-risk biofuels from renewable energy targets by 2030  

Draft regulation sets linear reduction trajectory starting in 2024, with contribution reaching zero by end of decade.
Vessel with H2SITE ammonia cracking system. H2SITE launches Norwegian subsidiary to advance ammonia-to-power technology for maritime sector  

Spanish technology firm establishes Bergen hub to accelerate deployment of ammonia cracking systems for shipping.
CMA CGM Monte Cristo vessel. CMA CGM names 400th owned vessel as methanol-fuelled containership  

French shipping line reaches fleet ownership milestone with 15,000-teu dual-fuel methanol vessel.

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