Title : Are We Heading To $185 Per Barrel For Oil?
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Are We Heading To $185 Per Barrel For Oil?
Zero Hedge: Two Oil Price Scenarios: One Bad, And One Catastrophic
Another day, another record discount for Russian Urals crude, which was offered at a price more than $22 below spot by oil trader Trafigura and still could find no giant... ... confirmed what we previously observed, namely that the commodity world is splitting in two: a bidless market for Russian oil, and (increasingly) offerless for non-Russian.
This is the key point that JPMorgan's commodity strategist Natasha Kaneva makes in a research note earlier today, in which she notes that while the US and its allies have so far stopped short of imposing penalties directly on Russian oil and gas, on Tuesday it became increasingly clear that Russian oil is being ostracized.
The preliminary Russian crude oil loadings for March revealed a 1 mbd drop in the loadings from the Black Sea ports, 1 mbd drop from the Baltics and 0.5 mbd drop in the Far East.
Read more ....
WNU Editor: Just a reminder to everyone. These type of oil spikes helped catalyze the global financial crisis of 2008.
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