• 2019 April 18 09:36

    Bunker Market this morning, April 18

    The Bunker Review was contributed by Marine Bunker Exchange

    Oil settles lower as U.S. inventories disappoint market yesterday

    Crude prices declined slightly on Wednesday as U.S. government data showed inventories drew down less than an industry report had suggested on Tuesday.

    Brent crude rallied to its highest level this year early in the session, bolstered by an unexpected drop in U.S. crude inventories reported by trade group the American Petroleum Institute late on Tuesday. However, official data from the Energy Information Administration on Wednesday showed a 1.4 million-barrel crude drawdown, about half the API’s reported decline.

    “The rally overnight was predicated on a 3 million-barrel-per-day draw in crude that did not materialize,” said Bob Yawger, director of energy futures at Mizuho in New York. “You’re going to need another catalyst.”

    Brent crude futures settled down 10 cents at $71.62 a barrel. During the session, the contract touched an intraday high $72.27 a barrel, the highest this year.

    U.S. West Texas Intermediate (WTI) crude futures settled down 29 cents per barrel at $63.76 a barrel. The contract touched an intraday high of $64.61 a barrel, just shy of a 2019 high of $64.79 hit last week.

    Crude continued to be supported by steady economic growth in China.

    China’s economy grew by 6.4 percent in the first quarter, official data showed, defying expectations for a further slowdown and assuaging global markets as a U.S.-China trade deal also appears near.

    Prices have been supported this year by a pact reached by the Organization of the Petroleum Exporting Countries and allies, including Russia, to limit their oil output by 1.2 million barrels per day. Global supply has been tightened further by U.S. sanctions on OPEC members Venezuela and Iran.

    Today's Oil Market expectation

    Oil prices slip amid ample U.S. output, Brent drifts away from five-month high

    Oil prices dropped on Thursday as the impact of plentiful U.S. production offset a surprise decline in U.S. inventories, leaving international benchmark Brent retreating from a five-month high touched in the previous session.

    Brent crude futures were at $71.42 a barrel at 0235 GMT, down 20 cents, or 0.3 percent, from their last close. Brent fell 0.1 percent on Wednesday, after earlier touching its highest since Nov. 8 at $72.27 a barrel.

    U.S. West Texas Intermediate (WTI) crude futures were at $63.69 per barrel, down 7 cents, or 0.1 percent, from their previous settlement. WTI closed the last session down 0.5 percent.

    U.S. crude inventories fell by 1.4 million barrels in the week to April 12, compared with analyst expectations for an increase of 1.7 million barrels, Department of Energy (DoE) showed on Wednesday.

    "A persistent rise in U.S. oil output, together with lingering demand-side concerns emerging from the U.S.-China trade dispute, is limiting price gains," Abhishek Kumar, Head of Analytics at Interfax Energy in London. Graphic: U.S. crude inventories, weekly changes since 2017.

    The price changes have been marginal for a few days now. It is difficult to determine why the market is behaving like it does. The small price adjustments could very well be from traders clearing or adjusting their accounts to be ready for action. The market is in a waiting mood.

    The U.S. Inventory

    U.S. crude inventories fell by 1.4 million barrels in the week to April 12, compared with analyst expectations for an increase of 1.7 million barrels, Department of Energy (DoE) showed on Wednesday.

    “The unexpected drawdown in U.S. commercial crude oil stocks was balanced by lower-than-expected withdrawals in the country’s gasoline and distillate inventories,” Kumar said.

    Gasoline stocks fell by 1.2 million barrels, less than analysts’ expectations in a Reuters poll for a 2.1 million-barrel drop.

    Distillate stockpiles, which include diesel and heating oil, fell 362,000 barrels, also not as much as forecasts for a 846,000-barrel drawdown, the EIA data showed.

    Net U.S. crude imports fell last week by 659,000 barrels per day.

    Oil Future close 17th April:
    Brent: $71.62(-0.10) pbr
    WTI: $63.76(-0.29) pbr
    MGO: $637(+3.50) /mton
    NY Harbor Ulsd: $637.02(-4.01) /mton

    Oil Futures trading at GMT: 06.08; Brent:-5 cents. WTI: -1 cent
    Market tendency at a standstill.

    Expect bunker prices little change today based on Oil Future close last night. 




2019 July 24

11:26 Bourbon requested the suspension of the listing
11:04 Multipurpose Reloading Complex increased social expenses by 22%
10:41 Northern Fleet small anti-submarine ship to attack mock enemy submarine during Navy Day
10:12 Huntington Ingalls secures U.S. Navy contract to install and support C4ISR systems
09:57 Bunker prices go down at the port of Saint-Petersburg, Russia (graph)
09:43 MABUX: Bunker market this morning, July 24
09:40 Baltic Dry Index is down to 2,165 points
09:23 Brent Crude futures price is up 0.25% to $64.00, Light Sweet Crude – up 0.32% to $56.95
09:12 Two more Damen FCS 3307 Patrol vessels delivered to Homeland Integrated Offshore Services Limited of Nigeria

2019 July 23

19:02 Diana Shipping announces continuation of time charter contract for m/v Myrto with Cargill
18:04 Port of Southampton welcomes growing numbers of 'green' vessels
17:43 ASCO ships continue to work on Absheron gas condensate field
17:13 HII successfully completes builder’s trials for LHA 7
17:09 Arrival of bridges for Theemswegtracé, Port of Rotterdam
16:51 Nakhodka Trade Sea Port invests RUB 1 billion in construction of water treatment facilities
16:30 Bunker prices go up at the Far East ports of Russia (graph)
16:29 SGRE conditionally awarded largest U.S. offshore wind power order to date: 1.7 GW from Ørsted and Eversource
16:06 Zvezda to save RUB 200 million with its innovating welding technology
15:35 SUR recommends seafarers avoid employment on ships bound for Middle East
15:14 Siemens Gamesa will supply the SG 4.5-145 for its first nearshore project in Vietnam
14:07 Marine Recruiting Agency took part in event dedicated to compliance with labour legislation
13:43 LUKOIL produces over 15 million tons of oil at Vladimir Filanovsky field
13:20 ACO Marine completes the installation and commissioning of a Clarimar MF-10 wastewater treatment plant
12:56 Ferry Tõll reconstruction into hybrid ship
12:24 Muscat, Oman to host 2nd Gas & LNG Middle East Summit on 2-3 December 2019
12:00 Hapag-Lloyd announces rates from Indian Subcontinent & Pakistan to North Europe
11:58 GTT receives two new orders from Hyundai Heavy Industries and Hyundai Samho Heavy Industries
11:40 Barcelona to host European LNG Infrastructure Development Summit on 21-21 October 2019
11:22 Rotterdam to host 4th International Green & Smart Shipping Summit on 8-9 October 2019
10:58 Pella launched lead medium refrigerator trawler SKORPION of project 1701
10:25 RS: follow-up to the conference on the rules for fishing vessels
09:57 AEC at the 8th Symposium on The Impacts of an Ice-Diminishing Arctic on Naval and Maritime Operations
09:34 Baltic Dry Index is up to 2,191 points
09:33 MABUX: Bunker market this morning, July 23
09:19 Brent Crude futures price is up 0.17% to $63.37, Light Sweet Crude – up 0.11% to $56.28
08:01 Nexans qualifies high voltage cable to world record water depth to create power connection across a Norwegian Fjord

2019 July 22

18:06 Dorset’s Intermarine UK lands steel fabrication deal to increase capacity at Portland Port
17:58 Port of Zeebrugge volumes grow by 12.5 % in first semester of 2019
17:48 MS VASCO DA GAMA welcomed at Ostseekai for maiden call
17:19 Port of Kiel welcomed cruise ship “Marella Explorer”
16:55 ‘A British first’ cruise call for Port of Southampton
16:29 Damen to prepare Stad Amsterdam for ‘green ambassador’ role
15:47 Akademik Pashin tanker arrived at the port of Murmansk
15:14 Container throughput of port Hong Kong (China) down 8.1% to 9.06 million TEUs in Jan-June’2019
14:51 Port of Singapore throughput in Jan-June’2019 climbed by 0.6% to 315.17 million tonnes
14:28 JAXPORT sets container and auto records through first three quarters of fiscal year 2019
13:53 Throughput of port Helsinki (Finland) in Jan-June’19 fell by 6.1% to 7.14 million tonnes (table)
13:29 Bunker sales at the port of Singapore in Jan-June’2019 fell by 6.5% Y-o-Y to 23.7 million tonnes
12:56 Average wholesale prices for М-100 HFO up to RUB 17,248 in RF spot market
12:32 London to host 19th Vessel Efficiency & Fuel Management Summit on November 27-28
12:10 Turbine assembly begins for the WindFloat Atlantic project
11:55 Hamburg to host ACI’s Digitalisation in Shipping: Europe 2019 on October 9-10
11:24 NOVATEK closes Arctic LNG 2 transaction
11:10 APM Terminals Maasvlakte II increases rail service to major inland logistics hub
11:04 Seadrill secures contract for the West Polaris in Southern Asia
10:30 ASCO ships continue working on Absheron gas condensate field
10:08 Port of Oakland freight hauler testing two more electric big rigs
09:55 International Finance Corporation visited NIBULON’s facilities
09:36 Brent Crude futures price is up 1.63% to $63.48, Light Sweet Crude – up 1.08% to $56.23
09:32 MABUX: Bunker market this morning, July 22