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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.

Aerial view of Bahía Beatriz vessel. Schottel supplies propulsion for Mureloil’s hybrid chemical tanker  

Bahía Beatriz joins sister ship to double Spanish operator’s biofuel and methanol transport capacity.
Smart Chimbusco exhibition display. Chimbusco launches six digital bunker products, including AI model and green fuel tools  

Cosco subsidiary unveils customer platform, AI system and methanol calculators for marine fuel sector.
Grande Tokyo vessel. Grimaldi takes delivery of 10th ammonia-ready car carrier Grande Tokyo  

The 9,200-ceu vessel completes a seven-ship series built at Chinese yards for vehicle logistics.
Rolls-Royce mtu engine test bench. Rolls-Royce Power Systems switches German engine test facilities to HVO fuel  

Company saved 3,200 tonnes of CO2 by end of 2025 after switching to renewable diesel.
MSC Migsan delivery ceremony. Changhong International delivers final LNG dual-fuel container ship 205 days early  

Chinese shipbuilder completes 10-vessel series for MSC with delivery of 11,500-teu MSC Migsan.
Seoul city skyline. Oilmar seeks senior and mid-level bunker traders in Seoul  

Marine fuel firm aims to recruit experienced traders for South Korean operations.
Morten Thomas Jacobsen, GEA. Global Ethanol Association to present on ethanol marine fuel at London shipping expo  

Morten Thomas Jacobsen will discuss ethanol fuel trials and maritime decarbonisation challenges in June.
Adrian Tolson, IBIA. IBIA warns of structural shift in marine fuel market following Middle East tensions  

Association chair says geopolitical disruptions signal lasting changes to bunker supply dynamics and pricing.
HMM Hamburg vessel. Rotterdam bunker volumes plunge 25% in first quarter amid regulatory shifts  

Fossil fuel sales decline sharply while alternative fuels show modest growth in Dutch port.
Camellia Dream vessel. Norsepower completes factory tests for 18 rotor sails bound for Airbus fleet  

Wind propulsion units cleared for installation on LD Armateurs vessels targeting 50% emissions reduction.

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