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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.

Everllence 8L51/60DF engine. German ferry operator TT-Line cuts CO2 emissions with bio-LNG switch  

TT-Line reports emissions reduction after operating two Baltic Sea ferries on bio-LNG throughout 2025.
CMA CGM vessel with bunker delivery tanker alongside. CMA CGM vessel completes record biomethanol bunkering in Yangshan  

Delivery marks first time a vessel in its fleet has operated on biomethanol.
Photograph of tanker valves. Pres-Vac highlights tanker valve compliance requirements for alternative fuels  

Company outlines regulatory standards and performance criteria for pressure-vacuum relief devices on methanol and ammonia vessels.
HD Hyundai and ABS joint development project ceremony for nuclear-powered electric propulsion systems. ABS and HD Hyundai partner on nuclear propulsion for container ships  

Classification society and South Korean shipbuilder to assess feasibility for 16,000-teu vessel.
Japan Engine Corporation (J-ENG) logo. Japan Engine Corporation extends ammonia engine licence to Akasaka Diesels  

J-ENG grants domestic partner rights to manufacture alternative-fuel engines for decarbonisation efforts.
Photograph of ship with overlaid encircled text of EU regulations. DNV to host webinar on FuelEU Maritime compliance strategies  

Classification society offers insights as first reporting period closes and verification phase begins.
Photograph of ship with overlaid text showing narrowing MGO-biodiesel price spread. Biodiesel–MGO price spread narrows to $400–500/mt in Northwest Europe  

Bunker One says tighter spread creates opportunities for shipping companies pursuing decarbonisation targets.
Graphic for webinar 'Exmar: preparing to sail using ammonia as a marine fuel'. Exmar to discuss ammonia-fuelled vessel operations in webinar  

Shipowner will explore safety measures and partnerships for new dual-fuel ammonia carriers.
Aerial view of a container vessel. Skuld reports engine damage from CNSL biofuel blends amid rising alternative fuel adoption  

Marine insurer details operational challenges with biofuels, including FAME, CNSL and UCOME across member vessels.
Graphic for Exmar webinar titled titled 'Exmar: preparing to sail using ammonia as a marine fuel'. Event date: 15 April 2026. GRM and Bunker Holding to host webinar on Middle East war's impact on energy markets  

Webinar on 9 March will examine effects on crude oil, bunker and gas markets.

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