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Oil Prices Mixed, But IMF Predicts Vaccine-Fuelled Demand Growth Recovery

Oil Prices Mixed, But IMF Predicts Vaccine-Fuelled Demand Growth Recovery
by Ship & Bunker News Team
Tuesday January 26, 2021
Meanwhile, no more Trump is proving good for Iran exports: File Image/Pixabay
Crude trading on Tuesday was mixed due to the familiar worries over Covid infection rates and indecision surrounding the highly-anticipated
$1.9 trillion
White House pandemic relief package – but that didn't prevent some analysts from predicting an upswing in demand growth for 2021.
Brent ended Tuesday's session up
3 cents at
16 cents to settle at
$52.61.
As U.S. democrats were reportedly trying to convince republicans of the need for more stimulus than already proposed,

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Indonesia Seizes Two VLCCs Over Alleged Illegal Fuel Transfer

Indonesia Seizes Two VLCCs Over Alleged Illegal Fuel Transfer
by Ship & Bunker News Team
Monday January 25, 2021
The
The
Indonesian Maritime Security Agency said in a statement on its website.
The ships were suspected of "carrying out ship-to-ship illegal fuel transfers, not raising the national flag, shutting down AIS", the authority said, adding that the
Freya is suspected of spilling some oil.
The ships will now be escorted to
Batam for further investigation.

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Oil Dips on China Covid Woes, But Goldman Still Bullish On Market Prospects

Oil Dips on China Covid Woes, But Goldman Still Bullish On Market Prospects
by Ship & Bunker News Team
Friday January 22, 2021
The one-two punch of
U.S. crude inventories resulted on Friday in a price decline of two key oil benchmarks.
Brent dipped
86 cents, or
4.4 million barrels in the most recent week, compared to expectations for a
1.2 million barrel draw;
Tony Headrick, energy market analyst at
CHS Hedging, pointed out that "Crude oil exports did fall quite dramatically, which is the main reason for a decent build overall in crude stocks."
“
Mark Oberstoetter, research director, Wood Mackenzie
Still,
Goldman Sachs on Friday struck an optimistic tone by pointing out that the new U.S. administration's plans for huge fiscal spending and little urgency to lift sanctions on

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