Sign up
Log in Sign up
This is a legacy page. Please click here to view the latest version.
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. Shale oil components detected in Singapore marine fuel | VPS  

VPS testing identifies 90,000 mt of delivered VLSFO containing Estonian shale oil compounds.
Constantinos Capetanakis, Star Bulk. IBIA chair completes two-year term, citing expansion in regulatory engagement and membership  

Outgoing chair to remain on Global Board and lead Future Fuels and Bunker Buyers’ working groups.
Aerial view of a container vessel. LNG and methanol investments risk becoming 'dead ends' for shipping decarbonisation, UCL study finds  

Research warns transitional marine fuels may lock in fossil infrastructure rather than enabling an ammonia pathway.
Vitalii Protasov, GENA Solutions Oy. Protasov: Renewable fuel supply could meet shipping demand, but offtake agreements remain a barrier  

GENA Solutions CEO highlights project pipeline growth but warns regulatory uncertainty hampers investment decisions.
Frontier Venture vessel. Wah Kwong takes delivery of first LNG-ready LR2 tanker with Bureau Veritas SMART notation  

Frontier Venture is first in newbuild series to achieve Group 3 'augmented ship' capabilities.
International Maritime Organization (IMO) headquarters. IMO calls for expert nominations for methane fuels technical seminar in May  

Event to cover LNG, biomethane and e-methane production, safe use and blending.
Emvolon logo. Emvolon to present stranded methane conversion technology at Industry Growth Forum  

Company selected from over 270 entrepreneurs to showcase modular fuel production system in Denver.
Oceana Frontier vessel. Tsuneishi Shipbuilding delivers world’s first LNG dual-fuel Kamsarmax bulk carrier  

Japanese shipbuilder manufactures LNG fuel tank in-house, achieving over 50% EEDI reduction.
80-metre high-speed ro-pax ferry render. Incat Crowther designs 80-metre high-speed ro-pax ferry for South Korean Yellow Sea routes  

Vessel will transport 572 passengers and 60 cars between Incheon and Ongjin County islands.
Star Kirkenes vessel. Grieg Maritime Group orders GT Wings jet sails for Star Kirkenes retrofit  

Norwegian shipowner signs contract for two AirWing 20 units with option for three more vessels.

↑  Back to Top


 Recommended