Will Cunliffe
Research Analyst, The Officials
99 problems…
Attacks in Libya add to market woes, Trump extends the Jones Act waiver, the US SPR is under 300 mill bbl and Alaskan production is ramping.
Attacks in Libya add to market woes, Trump extends the Jones Act waiver, the US SPR is under 300 mill bbl and Alaskan production is ramping.
Almost $90…briefly! Brent prices surged this morning but upon hearing the Iran and US are making progress on yet another ‘peace’ deal prices have dumped to under $87.50/bbl. The attacks in Libya have added another worry to the market’s stresses. And there was another attack in the Gulf of Oman where a container ship was attacked by military forces. Plus Iranian outlets were reporting another attack on a ship near the SOH. Naturally, traffic through Hormuz continues at a snail’s pace – Lloyd’s List counted just three crossings on Sunday. Trump is also belligerently demanding that Iran should pay compensation for 50 years of damages and for the deaths of “hundreds of thousands of innocent protestors”. Iran had previously stated the bill for the American led damages amount to $300 billion.
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About Asia Edition
Benchmark reports published at the close of the trading day in Asia.
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