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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (123429)4/5/2022 1:20:52 PM
From: Goose94Read Replies (1) of 203362
 
Crude Oil: Markets On Edge As IEA Debates Releasing More Crude

The Russia-Ukraine war and its increasingly global ramifications continue to dominate the narratives of the oil market, with the European Union still shying away from an outright ban on Russian oil and gas. The latest round of suggested sanctions revolve around an EU ban on imports of Russian coal and barring Russia-flagged vessels from accessing European ports, though even these might be watered down in later stages. Concurrently, the call for a coordinated SPR release by the United States last week has so far fallen on deaf ears with no OECD country joining the initiative so far. Thus, ICE Brent has remained range-bound, trading around $108 per barrel as of Tuesday.

IEA Still Discussing Joint Oil Release.

Member states of the International Energy Agency are still in talks about how much oil to release from their strategic stocks, leaving the United States as the only industrialized country to specify volumes and timing on its unprecedented 180 million-barrel release

Oilprice.com
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