This web alert serves as a reminder of the dangers of releasing cargo against an LOI. The club would emphasise that members should have a full appreciation of the risks in order for these to be minimised. The bill of lading is considered to be the ‘key to the warehouse’ and the carrier’s obligation, under […]

By hellenicshippingnews Crude at $60 a barrel would probably trigger a strong increase in North American oil output, the head of the International Energy Agency said, amid signs that OPEC members and Russia may be edging toward an agreement to limit production. Benchmark Brent crude hit a one-year high above $53 a barrel on Monday […]

By hellenicshippingnews Developed nations' total oil stockpiles fell in August for the first time since March, according to the International Energy Agency, but analysts say a continued buildup of refined fuels remains a barrier to reversing a two-year crude glut. The IEA reported Tuesday that overall oil and product inventories in OECD countries fell by […]

CNBC's Jackie DeAngelis reports on prices in the commodity markets. Read full story › Source:: CNBC energy