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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.

Methanol dual-fuel webinar graphic. Maritime Technologies Forum to host webinar on methanol dual-fuel ship inspection guidelines  

MTF webinar on 5 February will present recommendations from recently published safety inspection report.
Steel cutting ceremony of a 298,000-dwt LNG dual-fuel crude oil tanker with builder's hull no. 0330006. Steel cutting begins on 298,000-dwt LNG dual-fuel VLCC  

Chinese yard commences construction on sixth vessel in series for Andes Tankers II with DNV class oversight.
Rapide 3000-Z2 pushboat design render. Robert Allan completes pushboat design for Hermasa with biodiesel capability  

RApide 3000-Z2 vessels designed for Amazon grain transport with B100 biodiesel fuel option.
CF Industries, Trafigura, and TFG Marine logos side by side. CF Industries, Trafigura, and TFG Marine partner on low-carbon ammonia marine fuel supply  

Three companies sign MOU to develop supply chain for ammonia bunkering in shipping decarbonisation.
VaroPreem logo. Varo completes Preem acquisition to form VaroPreem with 530 kbd refining capacity  

Deal combines the inland and marine bunkering capabilities of Reinplus Fiwado and Preem.
Ship at sea. Alternative fuel vessel orders maintain momentum despite softer 2025 market  

Lloyd's Register data shows 590 alternative-fuel vessels ordered in 2025, with LNG dominating.
Anglo-Eastern logo. Anglo-Eastern completes 200,000 cbm of LNG bunkering operations  

Ship manager has conducted over 70 LNG bunkering operations across Asia, Europe, and North America.
ABS and Fleetzero partnership signing. ABS and Fleetzero collaborate on innovative battery containers for maritime applications  

The American Bureau of Shipping partners with Fleetzero to advance sustainable maritime technology through cutting-edge battery container solutions.
CIMC Raffles and Van Oord contract signing. CIMC Raffles secures second subsea rock installation vessel order from Van Oord  

Chinese shipbuilder to construct methanol and biofuel-capable vessel with 35,000-tonne rock capacity.
Marvel Swallow vessel. Wärtsilä signs 10-year lifecycle agreement with MOL for 12 LNG carriers  

Deal covers operational support and maintenance for vessels delivered in 2024 and 2025.

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