Page 4 - Ben Luckock News Today

Oil Market: While the market sees the fair price for oil at $72 to $88 per barrel, "the markets are probably a bit too relaxed," Ben Luckock, co-head of oil trading at Trafigura, told the APPEC conference in Singapore.

The oil market is vulnerable to price spikes due to low inventories and underinvestment in new oilfields, a senior official at global commodities trading firm Trafigura said on Monday. ... -Today at 07:17 am- MarketScreener

Commodity trader Trafigura thinks markets are currently underestimating the upside risk for oil prices.

Just days after oil prices hit their highest level this year, energy industry experts are meeting at the Asia Pacific Petroleum Conference.

The market sees the fair price for oil at $72 to $88 per barrel, Ben Luckock, co-head of oil trading at global commodities trading firm Trafigura, told the APPEC conference on Monday. ... -Today at 05:20 am- MarketScreener

Insurers are concerned that price-cap-compliant companies are losing business as a direct result of increased shipping through Russia’s shadow fleet

Thousands of vessels with limited cover are an environmental accident waiting to happen, says the boss of a top shipping insurer.

Old tankers, typically sold for scrap, are instead hauling crude while usual safety and insurance standards aren’t being met

The oil tanker Turba normally should have been melted down by now. The 26-year-old vessel hasn't had a full inspection since 2017, according to a database

Given large volume of oil trade between Russia and other countries, its age old fleet like oil tanker Turba poses a massive disaster risk due to its low maintenance and poor safety standards