Will Cunliffe
Research Analyst, The Officials
Blow for blow
Trump promises to hit Iran hard, an LNG tanker was hit in Damietta Port and the Houthis may impose tolls on ships through Bab el-Mandeb.
Trump promises to hit Iran hard, an LNG tanker was hit in Damietta Port and the Houthis may impose tolls on ships through Bab el-Mandeb.
Tit for tat and escalation for escalation… so much for that fragile halt to attacks. Trump promised to hit Iran very hard in response to the ballistic missile attack on the Jordan base and prices jumped back into the $90s. By the London close, Brent was at $90.51/bbl. The drones keep coming – and if you thought being as far north as Suez was a safe place, think again! A floating storage and regasification unit (vessel) and a LNG tanker was hit in or around Damietta Port just west of the Suez Canal. Both ships moved further away from the port following the hit. Gas prices jumped and TTF reached almost €62/MWh. The Houthis are following in the footsteps of Iran and are now reportedly considering imposing transit fees on commercial shipping through Bab el-Mandeb, with the likely exclusion of Chinese ships. We await comment from the Houthis regarding any China shipping negotiations.
The Officials publish outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
We invite you to read our reports, which are published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST). For any comments, please reach out to us through the emails provided in the signed documents.
Written by
About Euro Edition
Benchmark reports published at the end of the London trading day.
More News
It’s all under control
Edition: Euro EditionVolume: 3Issue: 155
EIA says crude inventories grew this week! ADNOC released OSPs, OPEC cut its oil demand growth forecast and US inflation remains subdued.
High on lies
Edition: Asia EditionVolume: 3Issue: 152
Chris Wright touts American lies, the IEA and EIA forecast major supply losses from the Gulf to persist and Japan's crude diet has shifted.
Fabricating peace
Edition: Euro EditionVolume: 3Issue: 154
The US and Iran are making progress...apparently, Libya could fall into chaos, the Rhine's desperately low and the Fed's losing billions.