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08-09-2016

3 Mins Daily Market Report

Oil prices extended gains by more than 1.5 percent on Thursday after industry data showed what might be the largest weekly crude stock draw in over three decades. London Brent crude for November delivery was up 74 cents at $48.72 a barrel by 0022 GMT, after settling up 72 cents on Wednesday. NYMEX crude for October delivery was up 84 cents at $46.34, after settling up 67 cents on Wednesday. U.S. crude stocks surprisingly plunged 12.1 million barrels last week, data from the American Petrol
07-09-2016

MFM Accuracy: Understanding Why Singapore's TR 48 is Superior to EU MID

in Singapore close to a hundred barges have been successfully accredited against TR 48 Anybody working in the bunker industry should be well familiar by now of the impending mandatory use of mass flow meters for bunker deliveries in Singapore from 1 January 2017 onwards. Singapore's move to embrace technology and upgrade from historical archaic manual measurement practices to sophisticated use of meters to ensure irrefutable custody transfer quantities
07-09-2016

USCG Reports Bunker Spill in Houston Channel After Tanker Fire

USCG says a fire on the tanker Aframax River late Monday led to a bunker spill in the Houston Ship Channel.
07-09-2016

3 Mins Daily Market Report

Oil prices inched lower on Wednesday as market participants remained skeptical that producers will reach an agreement to freeze output to rein in a global supply glut. London Brent crude for November delivery was down 4 cents at $47.22 a barrel by 0018 GMT, after settling down 37 cents on Tuesday. NYMEX crude for October delivery was down 8 cents at $44.75, after settling up 39 cents on Tuesday. Oil prices hit a one-week high on Monday after Russia and Saudi Arabia agreed to cooperate on s
06-09-2016

3 Mins Daily Market Report

Brent crude prices were steady on Tuesday, holding most of their gains from the previous session when top producers Russia and Saudi Arabia agreed to cooperate on stabilizing the oil market. London Brent crude for November delivery was down 15 cents at $47.48 a barrel by 0022 GMT, after settling up 80 cents at $47.63 on Monday. The global benchmark on Monday hit a near one-week high of $49.40 after the Russia-Saudi news. NYMEX crude for October delivery did not settle on Monday due to U.S.
05-09-2016

3 Mins Daily Market Report

Crude prices inched down on Monday in Asia, paring 3 percent gains in the previous session amid worries over a global oil glut. London Brent crude for November delivery was down 18 cents at $46.65 a barrel by 2245 GMT on Sunday. NYMEX crude for October delivery was down 18 cents at $44.26 a barrel, after closing up $1.28 on Friday. The trading in U.S. crude is likely to be limited today because of the U.S. Labor Day holiday. The global benchmark settled up $1.38 on Friday after a weak U.S.
02-09-2016

3 Mins Daily Market Report

Crude prices rose on Friday after losses of more than 3 percent a day earlier, with investors treading cautiously ahead of key U.S. employment data that will help gauge the health of the world's largest economy and oil consumer. Brent crude had climbed 50 cents to $45.95 a barrel by 0043 GMT, while U.S. West Texas Intermediate crude futures were up 47 cents at $43.63 a barrel. Brent and West Texas Intermediate crude futures are on track for their biggest weekly losses since mid-January, hi
01-09-2016

3 Mins Daily Market Report

Oil prices rose in early Asian trade on Thursday, rebounding on a weaker U.S. dollar after falling around 3 percent or more in the previous session following a surprisingly large build in U.S. crude and distillate stocks last week. U.S. crude futures had climbed 12 cents to $44.82 a barrel by 0025 GMT, after falling $1.65, or 3.6 percent, in the previous session. Brent crude futures climbed 10 cents to $46.99 a barrel after settling $1.33 lower, or 2.8 percent, at the previous close. The U
31-08-2016

Pre Freeze Talk Weeks Will See Turbulent Oil Market And 10 Percent Swings: Analyst

The roller coaster oil market plunged downward again on Monday, dropping nearly 2 percent after two consecutive days of gains, with Brent settling at $49.26 (down 0.66 cents) and West Texas Intermediary settling at $46.98, down
31-08-2016

USCG Responds to Bunker Spill in Columbia River

USCG is said to have linked the 250 gallon bunker spill to an 86-foot fishing vessel, the Emerald Sea.
31-08-2016

3 Mins Daily Market Report

Crude oil futures fell in early trade on Wednesday as the U.S. dollar held around three-week highs and industry stocks data indicated a build in U.S. crude inventories. International Brent crude oil futures were trading at $48.27 per barrel at 0052 GMT, down 10 cents, or 0.2 percent, from their previous close. U.S. West Texas Intermediate (WTI) crude futures were down 16 cents, or 0.4 percent, at $46.19 a barrel. The U.S. dollar index, which measures the currency against a basket of six ma
30-08-2016

3 Mins Daily Market Report

Oil futures edged up on Tuesday as the U.S. dollar erased earlier gains, but doubts that producers would be able to agree to an output freeze continued to drag on prices. International Brent crude oil futures were trading at $49.34 per barrel at 0125 GMT, up 8 cents from their previous close. U.S. West Texas Intermediate (WTI) crude futures were up 15 cents at $47.13 a barrel. The U.S. dollar retreated from Monday's two-week high as investors looked ahead to jobs data this week that Federa
29-08-2016

3 Mins Daily Market Report

Oil prices fell early on Monday as output from Iraq rose and as Iran said it would only cooperate in upcoming producer talks to freeze output if fellow exporters recognized its right to fully regain market share. International Brent crude oil futures were trading at $49.54 per barrel at 0043 GMT, down 38 cents from their previous close. U.S. West Texas Intermediate (WTI) crude futures were down 43 cents at $47.21 a barrel. Traders said the price falls were a result of climbing output from
26-08-2016

3 Mins Daily Market Report

Oil prices dipped in early trading on Friday after the Saudi energy minister tempered expectations of strong market intervention by producers during talks next month. International benchmark Brent crude oil prices were trading at $49.55 per barrel at 0114 GMT, down 12 cents from their previous close. U.S. West Texas Intermediate (WTI) crude was down 7 cents at $47.26 a barrel. Saudi Arabian Energy Minister Khalid Al-Falih told Reuters late on Thursday that "we don't believe any significant
25-08-2016

Port of Shenzhen to Adopt China ECA Regulation from October 1

China's new ECA rules will become compulsory at the Port of Shenzhen on October 1, 2016.
25-08-2016

3 Mins Daily Market Report

Crude prices edged lower on Thursday as brimming U.S. and Asian fuel inventories returned investors' attention to a large global supply overhang, cutting short a price rally and restricting Brent crude futures to below the $50 a barrel mark.  Brent futures were trading at $48.95 per barrel at 0132 GMT in early Asian trade, down 10 cents, after closing down 1.8 percent previously. U.S. crude futures were at $46.68 a barrel, down 9 cents, after falling 2.8 percent on Wednesday. Traders said
24-08-2016

3 Mins Daily Market Report

Oil prices fell early on Wednesday as an unexpected build in U.S. crude stocks weighed on markets, along with concerns that Chinese crude demand could falter as Beijing clamps down on alleged tax evasion in the oil industry. International Brent crude oil futures were trading at $49.57 a barrel at 0054 GMT, down 39 cents, or 0.8 percent, from their last close. U.S. West Texas Intermediate (WTI) crude was down 46 cents, or 1 percent, at $47.64 a barrel. Robust Chinese crude demand growth has
23-08-2016

K Line Recognised for Bunker and Emission Saving Speed Reductions at California Ports

K Line has been recognised for a high level of compliance with voluntary speed reduction programmes during 2015.
23-08-2016

3 Mins Daily Market Report

Oil prices fell early on Tuesday as analysts including Goldman Sachs warned that August's price rally had been overdone, and that a proposed oil production freeze at current near record levels would not help rein in an oversupplied market. International Brent crude oil futures were trading at $48.98 per barrel at 0032 GMT, down 18 cents from their last close. U.S. West Texas Intermediate (WTI) crude was down 23 cents at $47.18 per barrel. Analysts said the falls were a result of an overdon
22-08-2016

Authorities Investigating Source of Spill at Darwin Harbour

Authorities at Australia's Darwin Harbour are investigating the source of a large spill of what is believed to be HFO.
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