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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.

VPS logo. NE Atlantic ECA will cause significant change to the current fuel mix | Steve Bee, VPS  

The possibility of off-spec issues highlights the continuing need for proactive fuel testing to protect vessels.
Kris Vedat, SmartSea. Smart ships failing to convert data into actionable intelligence, warns SmartSea  

Maritime technology firm claims vessels collect vast amounts of data but lack integration to support decision-making.
Energy Transition Outlook 2026 Hydrogen To 2060 report cover. DNV forecasts 100-fold growth in clean hydrogen by 2060, with China leading expansion  

Classification society projects $3.2tn investment in hydrogen sector, with maritime accounting for 15% of clean hydrogen use.
World Shipping Council logo. Dual-fuel container ship and vehicle carrier fleet surpasses 1,200 vessels  

World Shipping Council reports 65% year-on-year increase in operational dual-fuel vessels to 440 ships.
Sotiris Raptis, ECSA. European Shipowners calls for ETS revenue investment and fuel supplier mandate  

ECSA urges the EU to invest €9bn in annual ETS revenues in fuel production and infrastructure.
Sheen Mao Choong, SSA. Singapore bunker industry urged to prioritise resilience and collaboration  

SSA committee vice chair highlights energy security and crisis readiness at Marine Fuels Forum 2026.
Chia How Khee, TFG Marine and David Foo, MPA. TFG Marine receives bunker safety award from Singapore maritime authority  

Marine fuel supplier recognised for safety standards and operational performance at MPA Marine Fuel Forum.
Rotterdam skyline at night. Bunker surveyor sought in Rotterdam to meet increased demand  

Dutch firm MCE Marine Surveyors is recruiting for a quantitative fuel inspection role.
Emma Roberts, BHP. GCMD highlights BHP biofuel trials to address scaling challenges in maritime decarbonisation  

Mining company discusses need for traceability and coordinated progress across supply, cost and operational readiness.
Levante LNG vessel. Peninsula implements energy efficiency measures across bunker supply fleet  

Marine fuel supplier focusing on data-driven upgrades and operational measures to cut consumption.

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