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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (122795)	3/26/2022 5:36:33 AM
From: Goose94	Read Replies (1) of 203215

Crude Oil: The beauty of the oil market lies in how unpredictable it is. The big story of this week – storms damaging export facilities of Kazakhstan’s flagship 1.2 million b/d CPC grade – was expected to drag oil prices down on Friday when loadings restarted. Just as it seemed that Brent could move lower from the $120 per barrel mark, the specter of Saudi supply disruption reappeared with an oil storage facility taking a missile hit in Jeddah, presumably from Yemen’s Houthi militias. Coupled with the dormant Iranian nuclear deal and incessant European quarreling about the right way to sanction Russia – not even a coal embargo could be agreed upon – predicting the movement of the oil market is only getting harder. Caspian Terminal Outage Turns Up the Differential Heat. Europe’s largest light sweet crude stream, the 1.2 million b/d CPC that incorporates most of Kazakhstan’s production, saw its outflows curbed dramatically this week after a storm reportedly damaged two of the three berths at the CPC export terminal. Oilprice.com

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