• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 hours "False Flag Planted In Nord Stream Pipeline, GFANZ, Gore, Carney, Net Zero, U.S. Banks, Fake Meat, and more" - NEWS in 28 minutes
  • 1 day Is Europe heading for winter of discontent with extensive gas shortages?
  • 7 days Wind droughts
  • 1 day ""Green" Energy Is a Scam. It Isn't MEANT to Work." - By James Corbett of The Corbett Report
  • 1 day "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 5 days Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 3 hours Xi Is Set To Be Re-Elected As China’s Leader
  • 8 days Oil Prices Fall After Fed Raises Rates
  • 10 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 13 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
Editorial Dept

Editorial Dept

More Info

U.S. Sanctions Have Oil Markets On Edge

This week’s market sentiment was in many ways influenced by the IMF’s cutting global growth rates to their lowest since 2009 (at 3 percent), dropping them for the fifth consecutive time already this year. The root cause has barely changed – unresolved US-China trade tensions with significant potential for further sanctions, and we have already seen a freight rate explosion (almost all continents witnessed actual freight rates doubling or tripling after COSCO was listed by the Trump Administration). Sure, the freight panic has subsided a bit this week as refiners simply cut their spot purchases because exorbitant rates rendered many crudes economically unviable, but in the current circumstances, one never knows when the next great sanctioning blow could come.

Apparent advances in Brexit talks boosted the market on Monday-Tuesday, yet initial positive reports were played down by both the European Union and Ireland, claiming that there is still a lot of work to be done. As a consequence, the global benchmark Brent traded at $59.2-59.5 per barrel, whilst US benchmark WTI was assessed at $53.2-53.5 per barrel Wednesday afternoon.

1. India Finding it Hard to Wake Up from its Slumber

- Once the projected to be the world leader in oil demand growth, Indian crude imports have fallen to 3.9mbpd, plummeting to the lowest level since August 2017.

- As India’s industrial production moved into negative territory in August 2019,…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News