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Tue 13 Mar 2018 12:27

Oil dropped slightly yesterday, but continues to trade in tight range


By A/S Global Risk Management.

Michael Poulson, Global Risk Management.
Image: 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.

NSU Tubarao vessel. Anemoi completes rotor sail installation on 400,000 DWT ore carrier  

UK firm fits five 35m-tall units on NS United vessel, targeting 6-12% fuel savings.
Liberty Marine Fuels 10-year anniversary graphic. Liberty Marine Fuels marks 10 years in bunker brokering  

Aalborg-based bunker broker celebrates a decade of operations connecting shipowners, charterers, and suppliers.
Charis Chartosias, Island Oil. Island Oil appoints Charis Chartosias as Commercial Development Manager  

Marine fuel trader brings over 14 years' experience to Limassol-based company.
Amalie Møller Simonsen, Malik Supply. Malik Supply appoints HR consultant to support organisational development  

Danish marine fuel trader hires Amalie Møller Simonsen with HR experience at Gjensidige and Netcompany.
James Shiller, Dan-Bunkering. Dan-Bunkering relocates new fuels lead to Copenhagen to support European decarbonisation push  

James Shiller moves from Cape Town to Denmark as EU regulations drive alternative fuel adoption.
MPA and DNV sign MoU. MPA Singapore and DNV renew partnership to advance maritime decarbonisation and digitalisation  

Third MoU renewal focuses on zero-emission fuels, smart-ship systems, and talent development initiatives.
AET and Samsung Heavy Industries logo side by side. AET orders two LNG dual-fuel Suezmax tankers from Samsung Heavy Industries  

Singapore-based tanker operator to expand dual-fuel fleet with vessels featuring advanced efficiency and emissions reduction technologies.
Port of Tallinn and Ports of Stockholm sign MoU. Port of Tallinn and Ports of Stockholm launch green collaboration for fossil fuel-free shipping  

Estonian and Swedish ports sign MoU to promote sustainable maritime transport on Baltic Sea routes.
Grupo Ibaizabal vessel render. NextDF engines achieve 0.9% methane slip for Ibaizabal's LNG bunkering vessel  

Factory tests show methane emissions far below FuelEU Maritime threshold on newbuild.
Steve Esau, Sea-LNG. Sea-LNG welcomes EU transport plan's recognition of methane decarbonisation pathway  

Industry coalition says STIP validates investments in LNG, bio-methane, and e-methane for shipping.

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