BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News



Brent slips a couple of dollars after nearly reaching four-month high

By A/S Global Risk Management.



Michael Poulson, Senior Oil Risk Manager at Global Risk Management. Image credit: A/S Global Risk Management


Updated on 14 Sep 2018 07:15 GMT

After nearly reaching a four-month high earlier this week, Brent slipped a couple of dollars yesterday and, at the time of writing, is around $78.4.

A monthly oil market report from the International Energy Agency (IEA) warned of increasing global economic risks over the next few months due to uncertainties regarding emerging markets' economies and the risk of escalating trade disputes - items which could reduce demand for oil on a global scale. According to the report, global oil supply hit a record high in August - 100 mio. barrels per day - with OPEC crude supply hitting 32.63 mio. barrels per day, which is a nine-month high.

India will likely cut its monthly crude imports from Iran this and next month by half in an attempt to comply with the upcoming U.S. sanctions against Iran to below 12 mio. barrels. India is the second-largest buyer of Iranian oil, China is the largest buyer. India is also the world's third-largest oil importer, importing 70% of its energy demand; hereof, 83% of its oil demand comes from external sources. Options for India to replace the Iranian oil could be Saudi Arabia and Iraq.

Tonight, the weekly oil rig count from Baker Hughes is published. Last week saw a drop in the number of active U.S. oil rigs of 2. Since May, the number has been hovering around 860 plus/minus 10.

Turning to economic data, overnight Chinese Industrial production for August showed a slight increase 6.1% versus 6.0% previous. Later today, U.S. Core Retail Sales and Retail Sales is published.



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.






Related Links:

Brent crude oil breaks $80 on huge US inventory drop
A/S Global Risk Management Ltd.

Latest News:

Oil and fuel oil hedging market update
Singapore records best ever October bunker sales; YTD volume down 1%
Oil trading below $70 after highly volatile start to week
Genoil lowers fuel sulphur content in latest processing run
Aegean staff have been relying on compensation and benefits to support families: EY
Higher bunker prices help push up Hanwa's overseas revenue
Aegean doesn't have a centralized accounting system: EY director
Oil and fuel oil hedging market update
Brent heads back upwards after breaking below $70 on Friday
Aegean's proposed bidding process revealed
Aegean proposes bidding timeline as Mercuria offers $681m
Genco to decide on scrubbers for 15 bulkers by early 2019 - 'if not before'




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events