JPMorgan Sees "Stratospheric" $380 Oil on Worst-Case Russian Cut

Bloomberg2022-07-02

Global oil prices could reach a “stratospheric” $380 a barrel if US and European penalties prompt Russia to inflict retaliatory crude-output cuts, JPMorgan Chase & Co. analysts warned.The Group of ...

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BlogArca
2022-07-04
BlogArca
Nice
bullrun
2022-07-04
bullrun
👌
robot1234
2022-07-04
robot1234
Iran Slashes the Cost of Its Oil to Compete With Russia in China. Iran is being forced to discount its already cheap crude even more as a top ally gains a bigger foothold in the key Chinese market. Russian exports to China surged to a record in May, with the OPEC+ producer overtaking its cartel ally Saudi Arabia as the top supplier to the world’s biggest importer. While Iran has cut its oil prices to remain competitive in the Chinese market, it’s still maintaining robust flows, likely in part due to rising demand as China eases strict virus restrictions that had crushed consumption. Iranian oil has been priced at nearly $10 a barrel below Brent futures to put it on par with Urals cargoes that are scheduled to arrive in China during August, according to traders. That compares with a discoun
bostonxsgp
2022-07-04
bostonxsgp
ok
andrew123
2022-07-04
andrew123
Omg
ASMH
2022-07-04
ASMH
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