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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.

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.
Lego Ane Maersk video screenshot. Maersk marks 50-year Lego partnership with dual-fuel vessel model  

Shipping company displays an exhibition of Lego sets spanning five decades at Copenhagen headquarters.
Guo Yun Hai vessel. Cosco Shipping takes delivery of 80,000-dwt methanol-ready grain carrier  

Guo Yun Hai features box-shaped cargo hold and methanol-ready design with energy-saving devices.
CMA CGM Innovation ship-to-ship transfer. Algeciras reports record LNG bunkering volumes, claims European top-three position  

Spanish port says it supplied 333,833 cbm of LNG across 78 ship-to-ship operations in 2025.
Additional costs chart. T&E: Iran conflict costing shipping industry €340m a day in fuel costs  

Transport & Environment analysis shows marine fuel price surge has cost the industry €4.6bn since conflict began.
CF 3850 vessel render. Damen delivers second hybrid-ready combi freighter to German shipowner  

The vessel features biofuel capability and will be retrofitted with wind-assist technology with government funding.
Engine retrofit report 2026 graphic. Retrofit capability expands as regulatory uncertainty slows alternative-fuel conversions  

Lloyd’s Register warns delayed conversions could compress demand into a narrower, costlier timeframe as the fleet ages.
Bermuda Container Line (BCL) logo. Bermuda Container Line imposes emergency bunker surcharge citing Iran War fuel price spike  

Shipping operator to add $150 per TEU charge from 1 May amid geopolitical fuel cost pressures.
China flag. Zhejiang’s first methanol-powered container ship launches in Jiaxing  

Vessel uses methanol propulsion technology to reduce carbon dioxide emissions by 90%.

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