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Weekly Tanker Time Charter Estimates

Weekly Tanker Time Charter Estimates September 20 2017

After Iraqi oil minister’s reported that OPEC members are considering extending the output cuts, oil prices rose for the largest gain in 13 years, with WTI reaching 50.08 USD/bbl and Brent 55.68 USD/bbl.

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Weekly Tanker Time Charter Estimates September 13 2017

Crude inventories rose by 6.2 Mbbls by the end of last week to 468.8 Mbbls, beating for one more time analysts’ expectations.

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Weekly Tanker Time Charter Estimates, September 6 2017

Oil prices were up again today due to the strong global refining margins and the successful reopening of USG refineries.

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Weekly Tanker Time Charter Estimates, August 30 2017

Tropical Storm Harvey, which has flooded the USG Coast, severely damaged the region’s refining capacity and increased the crude inventories as refiners are no longer able to take more oil. Gasoline futures and other refined product futures and prices continued to soar on fears of fuel shortages across the region.

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Weekly Tanker Time Charter Estimates, August 23 2017

It has been 2 years since the discovery of the Liza oil field and Exxonmobil announced that they have discovered more oil in the Payara reservoir off the coast of Guyana, which increases the total discovery to approximately 500 Mbbls.

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Weekly Tanker Time Charter Estimates, August 16 2017

US crude inventories fell by 9.2Mbbls last week, almost 3 times more than analysts expected.

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Weekly Tanker Time Charter Estimates, August 09 2017

Oil surpassed USD 52/ bbl today ahead of the US stocks report which is expected to show crude stocks down for 6 weeks in a row, however it is still uncertain if the OPEC led oil supply cuts will materialise.

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Weekly Tanker Time Charter Estimates, August 02 2017

Despite the fact that growth in US shale oil production is slowing, it still makes OPEC’s efforts to cut supply and normalize global inventories more difficult, keeping benchmark prices capped at around $50/bbl on this quarter.

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Weekly Tanker Time Charter Estimates, July 26 2017

Oil prices rise for a 3rd straight session after US crude stockpiles fell by 10.2M bbls last week.

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Weekly Tanker Time Charter Estimates, July 19 2017

Brent crude is currently trading around $49/bbl as the market was boosted by rumours that Saudi Arabia could cut output by 1 m bbl’s/pd.

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Weekly Tanker Time Charter Estimates, July 12 2017

Opec still pumping too much oil and according to the latest statements of the region Saudi Arabia is expected to cut crude oil shipments to its customers in August by more than 600k bbls/day.

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Weekly Tanker Time Charter Estimates, July 05 2017

The latest developments in oil news show that crude oil snapped again, after a week of constant upward movement, as Russia stated that they will oppose to any proposals to extend the OPEC production cuts.

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Weekly Tanker Time Charter Estimates, June 28 2017

Due to the hit in a major refinery in Salina Cruz refinery (WCMex),  which is not expected to be restarted until the end of July 2017, Pemex (Mexican National Petroleum Company) is looking to import about 3.5M bbls if refined products to meet the outages creates.

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Weekly Tanker Time Charter Estimates, June 21 2017

Oil fell over 2% on Tuesday and traders seem to expect a bigger drop in the market.

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Weekly Tanker Time Charter Estimates, June 14 2017

Just a few weeks after the announcement of OPEC regarding the extension of the oil production cuts, production in Libya, Nigeria and Iraq increased by roughly 336,000 bbl/day.

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