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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.

Steel cutting ceremony of a 155,500-dwt LNG dual-fuel crude oil tanker with builder's hull no. 0315848. Steel cutting begins on LNG dual-fuel Aframax tanker  

Chinese yard cuts steel for 155,500-dwt crude carrier.
BV and CMDT cybersecurity agreement signing ceremony. Bureau Veritas and CMHI sign agreements to advance green and smart shipping solutions  

Classification society and Chinese shipbuilder strengthen partnership with cybersecurity and alternative fuel certifications.
Steel cutting ceremony of a 8400-teu LNG dual-fuel container vessel with builder's hull no. 0208111. Steel cutting begins on 8,400-teu LNG dual-fuel container vessel  

Chinese yard commences construction on LNG-powered container ship with Lloyd's Register oversight.
Keel-laying ceremony of a 155,500-dwt LNG dual-fuel crude oil tanker with builder's hull no. 0315871. Keel laid for LNG dual-fuel crude oil tanker in China  

Ceremony held on 23 December for LNG-capable tanker under Lloyd’s Register class.
Keel-laying ceremony of a 155,500-dwt LNG dual-fuel crude oil tanker with builder’s hull no. 0315844. Keel laid for 155,500-dwt LNG dual-fuel crude oil tanker  

Chinese shipyard begins construction on Suezmax tanker, with Maran and ABS staff in attendance.
Steel cutting ceremony for CMA CGM’s 8,400-teu LNG dual-fuel container vessel. New Times Shipbuilding begins steel cutting on 8,400-teu LNG dual-fuel boxship  

Chinese shipyard begins construction on vessel for CMA CGM with Lloyd's Register classification oversight.
ISCC Logo. Golden Island secures ISCC EU certification for sustainable marine fuel trading  

Singapore-based firm can now supply B100 biodiesel and green methanol with verified sustainability proofs.
Palace of Westminster, London. Uni-Fuels seeks bunker traders for London operations  

Nasdaq-listed marine fuel supplier recruiting for trading team to support global expansion efforts.
Uni-Fuels Logo. Uni-Fuels seeks bunker traders for Piraeus office  

Nasdaq-listed marine fuel provider advertises positions as part of expansion in Greek market.
Aland vessel. EU updates shipping company assignments under emissions trading system  

European Commission publishes revised list of administering authorities based on latest Thetis-MRV data.

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