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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (124376)	4/15/2022 1:53:36 PM
From: Goose94	Read Replies (1) of 203382

Crude Oil: Chinese Demand Destruction Counters The Risk Of A Russian Oil Ban China’s descent into an almost nationwide COVID lockdown has triggered the first large-scale demand roadblock of 2022, with some 45 cities accounting for 40% of the country’s economic output being under some form of mobility curtailment. On the other hand, the European Union continues to mull banning Russian oil imports, pushing up the Brent complex even higher compared to other regional benchmarks. ICE Brent front-month futures have closed the week slightly above the $110 per barrel mark, but uncertainty regarding both supply and demand will ensure volatility in the coming days. Putin Warns of Energy Flow Redirection. Russia’s President Vladimir Putin said that Moscow will redirect its energy eastwards and build new infrastructure toward Asia, arguing that unfriendly regimes in the West are driving up prices for themselves despite their dependence on Russian flows. Oilprice.com

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