• 4 minutes Nord Stream 2 Halt Possible Over Navalny Poisoning
  • 8 minutes America Could Go Fully Electric Right Now
  • 11 minutes JP Morgan says investors should prepare for rising odds of Trump win
  • 1 day Daniel Yergin Book is a Reality Check on Energy
  • 2 days Permian in for Prosperous and Bright Future
  • 3 hours US after 4 more years of Trump?
  • 2 days Famine, Economic Collapse of China on the Horizon?
  • 2 days Oil giants partner with environmental group to track Permian Basin's methane emissions
  • 2 days YPF to redeploy rigs in Vaca Muerta on export potential
  • 4 hours Something wicked this way comes
  • 2 hours Why NG falling n crude up?
  • 2 days Gepthermal fracking: how to confuse a greenie
  • 2 days Top HHS official takes leave of absence after Facebook rant about CDC conspiracies
  • 4 hours The Perfect Solution To Remove Conflict Problems In The South China East Asia Sea
  • 1 day Open letter from Politico about US-russian relations
  • 4 days Surviving without coal is a challenge!!

Trade War Worries Weigh On Bullish Crude Markets

After a brief spell of geopolitical extravaganza, Brent prices dropped back below $70 per barrel this week as the oil market started worrying about the fragile future of US-China trade talks, with threats of tariffs getting back to the agenda. The European market is still struggling to fully digest the issue of Urals contamination with the port of Ust-Luga coming back to uncontaminated loadings later this week, still leaving open the question of what to do with the dozen organic chloride-rich cargoes already on seas. This has made the sour shortage in Europe even more acute against the background of the United States making good on its promise not to issue any waivers beyond May 05, 2019.

(Click to enlarge)

As a consequence, Brent Dated traded around $69.5 per barrel, whilst WTI traded in the $60.5-60.8 per barrel interval.

1. Saudi OSPs Forestall Further Appreciation of Middle Eastern Crude

(Click to enlarge)

(Click to enlarge)

(Click to enlarge)

- With Iranian volumes scraped off the Asian crude landscape, Saudi national oil company Saudi Aramco has hiked Asia-bound June-loading OSPs steeply to many-year highs.

- The Asia-destined increases ranged from 40 cents to 1.2 USD per barrel, with Arab Super Light seeing the most substantial hike.

- Even though Arab Heavy was raised only by 40 cents per barrel, at +0.15 USD per barrel against Oman/Dubai average it moved to its highest level since December…




Oilprice - The No. 1 Source for Oil & Energy News