crude

Europe Well-Poised To Withstand Upcoming Russian Oil Product Sanctions

Credits: Zbynek Burival/Unsplash
  • New embargo, plus G7 price cap, set to go into effect Feb. 5
  • Europe has alternative suppliers, strategic stocks, Simson says
  • EU encouraged by muted crude price reaction to Dec. 5 sanctions

European and G7 countries have secured alternative fuel supplies and can draw on their strategic oil reserves to mitigate the impacts of the upcoming sanctions and price cap on Russian refined products, the EU’s energy chief said Jan. 15, reports SP Global.

Russian crude oil...

https://mfame.guru/europe-well-poised-to-withstand-upcoming-russian-oil-product-sanctions/

Russia Forced To Use More Of Its Own Oil Tankers To Dodge Sanctions

Credit: Zbynek Burival/Unsplash

Russia is increasing the number of its own oil tankers that it is using to deliver its crude oil to buyers, Bloomberg said on Friday. The EU levied strict sanctions banning all Russian crude oil imports to EU nations transported by sea on December 5. On top of that, G7 buyers of Russian seaborne crude oil can only do so at a price below $60 per barrel if they want to use European ships or insurers, reports Yahoo.

Another ban—this time on oil products from Russia

Thes...

https://mfame.guru/russia-forced-to-use-more-of-its-own-oil-tankers-to-dodge-sanctions/

US Poised To Become Net Exporter Of Crude Oil

credit: Venti views_unsplash

The United States has become a global crude oil exporting power over the last few years, but exports have not exceeded its imports since World War II, says an article published on Pgjonline.

Leading exporter

Sales of U.S. crude to other nations are now a record 3.4 million barrels per day (bbl/d), with exports of about 3 million bbl/d of refined products like gasoline and diesel fuel.

The United States is also the leading liquefied natural gas (LNG) exporter, where...

https://mfame.guru/us-poised-to-become-net-exporter-of-crude-oil/

Sanctions on Russian Commodities Tracker

Credit: Zbynek Burival/Unsplash

Russia’s invasion of Ukrainetriggered an unprecedented wave of sanctions against Moscow which are still rippling through global commodity markets. In addition to official sanctions which continue to evolve, major self-sanctioning by industries looking to cut ties with Russia have deepened the market impact.

credits: SP Global

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Source: SP Global

The post Sanctions on Russian Commodities Tracker

https://mfame.guru/sanctions-on-russian-commodities-tracker/

Oil Rises With OPEC+ Seen Considering!

Oil climbed to an intraday high with OPEC and its allies expected to consider deeper production cuts when they meet this weekend, reports Yahoo.

A broad selloff

West Texas Intermediate rose as much as 2.1% to an intraday high of $77.84, reversing course after futures earlier dropped to the lowest since 2021. Protests over harsh anti-Covid measures erupted across the world’s largest crude importer over the weekend, spurring a broad selloff in commodities as the week opened.

The nearest portion of...

https://mfame.guru/oil-rises-with-opec-seen-considering/

Top 5 Charts To Watch This Week

Asian crude importers are hoping to secure cargoes from Middle Eastern producers following OPEC+’s decision to cut production quotas, while France is hoping to ease its fuel supply shortages with imports. In agriculture, eyes are on the Brazil elections and how its result could affect sugar and biofuels policies, as well as on the corn-or-wheat debate for feed makers, reports SP Global.

1. Asian refiners reassess crude-buying strategy amid OPEC+ output jitters

What’s happening?

OPEC and its allies...

https://mfame.guru/top-5-charts-to-watch-this-week-2/

A Planned Price Cap on Russian Oil?

  • OPEC+ agrees major cuts to production quotas
  • Urals currently trading at discount of around $25

Russian Deputy Prime Minister Alexander Novak said Oct. 5 that a planned price cap on Russian oil could result in a temporary drop in production, reports SP Global.

Suspending exports

Russia has said it would respond to such a cap by suspending exports to countries that introduce it. Another risk to output and export volumes comes from EU restrictions on Russian oil and oil products exports, as well...

https://mfame.guru/a-planned-price-cap-on-russian-oil/

Ukraine war and anti-Russia sanctions on top of COVID-19 mean even worse trouble lies ahead for global supply chains

Pictured: a conceptual representation of the supply chain. Graphic credit: Gerd Altmann via Pixabay.

By Tinglong Dai, Johns Hopkins University

Francis Fukuyama, the American political scientist who once described the collapse of the Soviet Union as the “end of history,” suggested that Russia’s invasion of Ukraine might be called “the end of the end of history.” He meant that Vladimir Putin’s aggression signals a rollback of the ideals of a free Europe that emerged after 1991. Some observers...

https://www.shippingaustralia.com.au/ukraine-war-and-anti-russia-sanctions-on-top-of-covid-19-mean-even-worse-trouble-lies-ahead-for-global-supply-chains/

Tanker Freight Rates Tumble Due To Unwinding Floating Storage

  • Diamond S currently owns 66 ships across both the crude and product tanker segments.
  • It comprises of  15 Suezmaxes, one Aframax, and 50 Medium Range Tankers.
  • Teekay Tankers has a fleet of 26 Suezmaxes, 17 Aframaxes, and nine Long-Range 2 product tankers.
  • They are focussed on destocking crude and refined product barrels stored on tankers.
  • Heavy floating storage demand spiked in April and May
  • The volume of crude and products being stored on tankers peaked 380 million barrels.
  • 150 tankers of...

https://mfame.guru/tanker-freight-rates-tumble-due-to-unwinding-floating-storage/

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