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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Volatility around $80

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 19 Oct 2018 06:34 GMT

During trading yesterday, Brent crude fell below $79 per barrel, or as much as 1.7 percent, the day after a U.S. Energy Department report on Wednesday showed the fourth weekly increase in U.S. crude stocks - this time 6.5 mio. bbls, which is almost three times what analysts had forecast. This growing stockpile is a result of refinery maintenance season which has increased inventories by 20 mio. barrels since the beginning of September. Oil prices changed course as U.S. equities came up.

This month, the International Monetary Fund downgraded its forecast for 2018 global economic growth, which has weighed on oil prices. Combined with increasing inventories, this has put oil prices under pressure. Price-wise, the rising geopolitical tensions are pointing in both directions as the ongoing trade war is bearish on prices due to an expectation of lower demand; but tensions due to U.S. sanctions on Iran - that will lower Iranian crude exports - is very bullish on oil prices.

Furthermore, the minutes of the Federal Reserve's latest meeting showed broad agreement among board members on the need to raise interest rates further.



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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