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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (117737)	12/28/2021 12:22:17 PM
From: Goose94	Read Replies (1) of 203507

Crude Oil: WTI Set To End The Year On A Bullish Note The oil markets are poised to end 2021 on a relatively high note, as concerns of Omicron impacting global demand in the same way that Delta did turn out to be overblown. The rise in outright prices was aided by supply disruptions across different continents - Libya still has at least 300,000 b/d withheld from the market as a result of renewed political infighting and skirmishes, Ecuador is yet to repair its flood-damaged pipeline system, whilst Nigeria is struggling with another force majeure at the Forcados Terminal. Combined with rumors of another week-on-week decline in US crude inventories, the Brent complex moved up to $79.5 per barrel, whilst WTI has last traded around $76.5 per barrel. PEMEX Slashes Crude Export Outlook. Mexico’s state oil company PEMEX has cut its crude export estimate for 2022 to a mere 435,000 b/d, half of this year’s 1 million b/d average, as the country seeks to refine more of its crude domestically. Oilprice.com

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