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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (121875)	3/11/2022 2:13:25 PM
From: Goose94	Read Replies (1) of 203441

Crude Oil: Supply Uncertainty Keeps Oil Markets On Edge Oil prices are heading towards their biggest weekly decline since November 2021 as supply concerns have been somewhat alleviated recently. To begin with, the reaching out of US officials to Venezuela added some downward pressure to prices by signaling the Biden administration's intent to secure more oil and opening the potential for Venezuelan heavy barrels to come to the U.S. in the future. In the meantime, the United States’ SPR release is set to ease some immediate tightness in the market, with 30 million barrels released over April and May. There is also an increasing level of confidence that Russian supply to Asian buyers will continue even without LCs, using direct telegraphic transfers, alleviating fears of Asia growing tighter, too. While markets remain undeniably tight, some of the worst-case scenario fears have been alleviated.

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