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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.

Varsha Sudheer, Island Oil. Island Oil appoints Varsha Sudheer as senior trader in Dubai  

Marine fuel supplier strengthens trading platform with new hire at recently established UAE hub.
Bitoil Group logo. Bitoil Group seeks bunker trader for Dubai operations  

Dubai-based company is recruiting for a senior bunker trader role to manage global fuel sales and procurement.
Hiring concept with puzzle pieces and a magnifying glass. Uni-Fuels seeks bunker traders for new London operation  

Singapore-headquartered firm advertises position as part of UK expansion.
Hiring concept with puzzle pieces. Uni-Fuels seeks bunker traders for new Piraeus office  

Nasdaq-listed marine fuel provider advertises positions as part of expansion into Greek market.
Sleipner RoRo vessel render. Wing sails could cut fuel use by 9% on expedition cruise vessels, study finds  

Wallenius Marine and Salén Ship Management examine wind propulsion potential beyond cargo shipping.
C-Flexer RoRo vessel render. Stena RoRo orders C-Flexer RoRo vessels with battery-hybrid propulsion for 2029 delivery  

Swedish shipowner places order with China Merchants Industry for next-generation vessels designed by NAOS.
IMO Technical Seminar on Marine Biofuels graphic. IMO to host technical seminar on marine biofuels in February  

Event at London headquarters will examine recent experiences and future prospects for biofuels in shipping.
Maritime Cleantech Enabling Ammonia Bunkering seminar graphic. H2SITE to present ammonia cracking technology at Bergen maritime seminar  

Spanish firm to showcase dual-environment hydrogen production system for vessels and ports at Maritime CleanTech event.
The Arctic and black carbon graphic. Clean Arctic Alliance urges Canada, Iceland and Norway to back polar fuels proposal at IMO  

Environmental coalition calls on three Arctic nations to support Denmark-led measure on black carbon emissions.
Valenciaport and Port of Santos MoU signing. Valencia and Santos ports establish green corridor to decarbonise transatlantic trade  

Ports sign agreement to promote low-emission fuels and shore power on Europe–South America route.

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