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



Oil prices dropped heavily last night as markets ignored bullish stock data

By A/S Global Risk Management.



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


Updated on 12 Jul 2018 07:25 GMT

Oil prices dropped heavily last night as markets ignored bullish oil stock data and turned attention to Libya, OPEC report and additional U.S. tariffs

Oil prices fell as Libya announced the reopening of key oil export terminals and expected the export to be back to normal levels during yesterday. Earlier this week, the National Oil Corporation announced that production was down to around 0.5 mio. barrels per day. Allegedly, production could increase by more than 800,000 barrels per day, but output remains fragile in the war-torn country.

President Donald Trump threatens to impose fresh tariffs on $200 billion in Chinese goods. The U.S. could target tariffs on more than $500 billion worth of Chinese goods - this is roughly the total amount of U.S. imports from China last year. China vows to retaliate to the move. The news sent markets lower as stocks declined, the dollar gained, and commodities slid. China's yuan weakened

The monthly oil market report from OPEC was published yesterday. In the report, OPEC foresees a drop in global demand for OPEC crude oil next year of 760,000 barrels per day to 32.18 mio. barrels per day. Today, the International Energy Agency (IEA) will release its monthly outlook as well.

U.S. crude inventories fell 12.6 million barrels last week, according to the EIA. This was almost three times more than consensus. Gasoline inventories fell slightly whereas distillates stocks increased by 4 mio. barrels.



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 came close to breaking $80 yesterday
A/S Global Risk Management Ltd.

Latest News:

EGCSA 10th anniversary workshop to be held in London
EGCSA member survey reveals scrubber system increase
Oil and fuel oil hedging market update
Many unresolved issues left for last PPR meeting before 2020: IBIA
Volatility and supply
IBIA calls for bunker sample verification guidelines before 2020
GP Global inks accord to produce and market Cepsa marine lubes in India
Oil and fuel oil hedging market update
North P&I launches guide on avoiding and defending bunker disputes
Build in stockpiles and record high U.S. oil production
IMO working group develops plan to help ships prepare for 2020
Oil and fuel oil hedging market update




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
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