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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Uncertainty of supply keeps volatility high

By A/S Global Risk Management.



Michael Poulson, Global Risk Management. Image credit: Global Risk Management


Updated on 18 Jul 2018 06:28 GMT

The fear of shortages pushed prices as high as $80 per barrel in the early summer, but are now receding, and expectations of surpluses are growing.

Due to the change in expectations, oil prices have decreased by almost 10% during the past week. Export terminals in Libya have reopened and exports from other OPEC countries and Russia have increased.

In addition to this, the production from seven major U.S. shale oil formations is expected to rise by 143,000 bpd to a record of 7.47 million bpd in August.

All shale regions except for Appalachia are at a high and output is expected to rise in all seven formations.

The uncertainty of the timing as well as the magnitude of the supply shifts are causing high volatility and is not expected to disappear in the near term. Hence, high volatility is still expected.

U.S. Chairman of the Federal Reserve Jerome Powell signalled yesterday that he believes the economy is doing well and expects stable growth to come, indicating increasing demand.

Inventory count is released at 16.30 CEST today.



A/S Global Risk Management is a provider of customised hedging solutions for the management of price risk on fuel expenses. The company has offices in Denmark and Singapore. For further details about its risk management products and services, please call +45 88 38 00 00 or email hedging@global-riskmanagement.com.






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