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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.

Keel-laying ceremony of an LNG carrier and bunker vessel hull no. S-1123. Avenir lays keel for new LNG carrier and bunkering vessel  

Marine fuel supplier has commenced construction of Hull No. S-1123 as part of its newbuild programme.
Hydrogen production unit. Aurora Hydrogen secures $3m from Oldendorff Overseas Investments for hydrogen production  

Investment advances microwave-driven methane pyrolysis technology that produces hydrogen from natural gas.
Electric ferry charging infrastructure. Corvus Energy and Beyonder sign MoU to develop maritime battery systems  

Norwegian companies to explore next-generation energy storage solutions for shipping sector decarbonisation.
Avenir Ascension vessel. Anew Climate and Avenir complete first joint bio-LNG bunkering in Europe  

Partnership delivers waste-based bio-LNG from Lithuania to Swedish ferry operator via Klaipėda terminal.
Flex Commodities logo. Flex Commodities changes legal suffix from DMCC to FZCO under Dubai naming framework  

Administrative change aligns marine fuel trader with new UAE free zone company naming conventions.
Capu Rossu vessel. Stena RoRo takes delivery of 13th E-Flexer vessel from Chinese shipyard  

Capu Rossu handed over to Corsica Linea for Marseille-Corsica route starting mid-June.
Caspar Gooren, Titan. Titan Clean Fuels signs e-methane supply deal with TURN2X for 2028 delivery  

Bunker supplier to receive e-methane from Spanish production plant for distribution across European ports.
Hydrogen-fuelled engine 6UEC35LSGH. Japan consortium achieves hydrogen co-firing in main engine for large commercial vessel  

Engine reaches over 95% hydrogen co-firing ratio, with installation planned for 2027.
BTB bunker truck. Belgian Trading & Bunkering expands DMA 0.89 truck deliveries in ARA region  

BTB extends marine fuel offerings with truck-based deliveries to meet maritime market demand.
Fuel pathway roundtable meeting participants. ABS convenes roundtable on offshore power barge for Great Lakes emissions reduction  

Meeting brought together ports, academia and industry to advance shore power solution under EPA programme.

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