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28-12-2016

3 Mins Daily Market Report

Oil prices edged down on Wednesday in quiet early Asian trading as the market waits to see how OPEC and non-OPEC members carry through on planned supply cuts in the new year. U.S. benchmark West Texas Intermediate (WTI) crude futures were down 13 cents at $53.77 at 0021 GMT after settling up 88 cents at $53.9 a barrel in the previous session. WTI prices have risen 25 percent since mid-November. International Brent crude oil futures were yet to trade after closing 93 cents higher at $56.09.
27-12-2016

3 Mins Daily Market Report

U.S. oil prices extended gains on Tuesday in post-Christmas trading, as OPEC and non-OPEC members are set to start curbing output in less than a week to support oil prices. NYMEX crude for February delivery was up 16 cents at $53.18 a barrel by 0002 GMT, after closing up 7 cents at a 17-month high on Friday. London Brent crude for February delivery was yet to trade after settling up 11 cents at $55.16 a barrel on Friday. Oil markets were closed on Monday after Christmas holiday. Oil has
23-12-2016

Shell Completes Sale of 51% Share in Malaysia's Shell Refining Company

Shell has sold its 51 percent shareholding stake in Malaysia's SRC to MHIL. R
23-12-2016

3 Mins Daily Market Report

Oil prices rose in quiet trading on Thursday, supported by strong U.S. economic data, a pause in the U.S. dollar rally and optimism that crude producers would abide by an agreement to limit output. The gains were curbed by an unexpected rise in U.S. crude inventories last week and moves by Libya to boost output over the next few months. Brent futures for February delivery rose 59 cents, or 1.1 percent, to $55.05 a barrel by 2:36 p.m. ET (1928 GMT), having previously finished 89 cents lower
22-12-2016

Danish Maritime Authority Reminds Shipowners to Renew Bunker Certificates

Bunker Certificates concern insurance cover for liability for bunker oil pollution damage.
22-12-2016

3 Mins Daily Market Report

Oil futures edged lower on Wednesday following a report showing a surprise build in U.S. crude inventories last week. U.S. crude stocks rose by 2.3 million barrels in the week to Dec. 16 as refineries hiked output, while gasoline stocks and distillate inventories fell, the U.S. Energy Information Administration said. That was the first weekly build in crude stockpiles in five weeks. Analysts were expecting U.S. crude inventories to fall by 2.5 million barrels, according to a Reuters poll.
21-12-2016

"Big OPEC Winner" Iran Expects Oil to Remain in $50-$55 Range

Iran's growth as a producer in post-sanctions 2016 was stymied by the need for substantial funding to improve infrastructure
21-12-2016

3 Mins Daily Market Report

Oil prices nudged higher on Wednesday on expectations of a U.S. crude inventory draw, although trading activity was muted as markets start to wind down ahead of the Christmas weekend. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $53.58 per barrel at 0105 GMT, up 28 cents from their last settlement. International Brent crude oil futures were at $55.57 a barrel, up 22 cents. Traders said the higher prices were largely due to an expected reduction in U.S. crude oil
20-12-2016

3 Mins Daily Market Report

Oil prices moved very little on Tuesday, with liquidity fading in the run-up to the Christmas weekend. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $52.11 per barrel at 0035 GMT, virtually unchanged from their last settlement.   International Brent crude oil futures were yet to trade. Traders and analysts said there were no fundamentals available to drive large price swings, and that markets would likely remain tepid this week. Jeffrey Halley, senio
19-12-2016

3 Mins Daily Market Report

Oil prices inched up on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. Brent crude futures, the international benchmark for oil prices, were trading at $55.41 per barrel at 0043 GMT, up 20 cents, or 0.36 percent, from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were up 22 cents, or 0.42 percent, at $52.12 a barrel. Traders said the higher prices in front-month c
16-12-2016

OPEC Forecasts Market Rebalance In 2017 Despite Posting Massive November Output Numbers

Even though data from the Organization of the Petroleum Exporting Countries shows that production is continuing to rise, the cartel insists that its recently ratified cutback deal combined with higher than anticipated demand wil
16-12-2016

3 Mins Daily Market Report

Oil prices edged up on Friday after market sources said Kuwait had told customers it was cutting supplies by more than initially expected from January as part of a coordinated effort by oil producers to drain a global glut. International Brent crude oil futures were trading at $54.22 per barrel at 0114 GMT, up 20 cents, or 0.37 percent from their last settlement. U.S. West Texas Intermediate (WTI) crude futures were up 24 cents, or 0.47 percent, at $51.14 per barrel. The slightly higher
15-12-2016

Danish Shipowners' Association Partners with Government Ministries on Tightening Global Environmental Regs

The Danish Shipowners' Association and government ministries will develop an action plan for environmental reg implementation.
15-12-2016

3 Mins Daily Market Report

Oil prices dropped on Thursday as a hike in U.S. interest rates prompted a flood of money away from commodities and into U.S. bonds and the dollar. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $50.89 per barrel at 00101 GMT, down 15 cents from their last settlement. International Brent crude oil futures were down 5 cents at $53.85 a barrel. Those losses came on the back of declines seen late on Wednesday, when crude fell over 3 percent due to a strong dollar.
14-12-2016

OPEC Deal Could Cut Glut in Half - but Critics Think It's "Unsustainable" and Will Benefit U.S.

Bloomberg calculates that the record 300 million-barrel surplus that has been building since 2014 will be cut almost in half by mid-next year
14-12-2016

3 Mins Daily Market Report

Oil prices fell on Wednesday following a reported rise in U.S. crude inventories and an estimate that OPEC may have produced more crude in November than previously thought, potentially undermining a planned output cut. U.S. West Texas Intermediate (WTI) crude oil futures were down 69 cents, or 1.3 percent, to $52.29 a barrel at 0101 GMT. International Brent crude futures were down 62 cents, or 1.1 percent, at $55.10. Traders said the price falls followed a report of surprise increases i
13-12-2016

3 Mins Daily Market Report

Oil rose by as much as 6.5 percent on Monday to an 18-month high after OPEC and some of its rivals reached their first deal since 2001 to jointly reduce output to try to tackle global oversupply. On Saturday, producers from outside the Organization of the Petroleum Exporting Countries, led by Russia, agreed to reduce output by 558,000 bpd, short of the target of 600,000 bpd but still the largest contribution by non-OPEC ever. That followed the Nov. 30 deal by OPEC to cut output by 1.2 mill
12-12-2016

BirdLife Malta Pushes for Mediterranean Sulfur ECA with New Ship Air Pollution Campaign

BirdLife Malta today announced a new project, "Together Against Air Pollution from Ships."
12-12-2016

3 Mins Daily Market Report

Oil prices shot up by 4 percent to their highest level since 2015 early on Monday after OPEC and other producers over the weekend reached their first deal since 2001 to jointly reduce output in order to rein in oversupply and prop up the market. Brent crude futures, the international benchmark for oil prices, soared to $57.89 per barrel in overnight trading between Sunday and Monday, its highest level since July 2015. U.S. West Texas Intermediate (WTI) crude futures also hit a July 2015 hi
08-12-2016

3 Mins Daily Market Report

Oil prices eased on Wednesday on bearish U.S. petroleum inventory data and doubts that production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. North Sea Brent crude oil was down 90 cents a barrel, or 1.7 percent, at $53.03 by 2:37 p.m. ET (1937 GMT). U.S. light crude settled down $1.16, or 2.3 percent, at $49.77 a barrel. The U.S. Energy Information Administration EIA said crude inventories fell 2.4 mill
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