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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (120937)	3/1/2022 2:07:05 PM
From: Goose94	Read Replies (1) \| Respond to of 203382

Crude Oil: The World Is Running Out Of Ways To Halt The Oil Price Rally Once again, a fairly sound idea of releasing 60 million barrels from strategic inventories held by IEA members went almost completely unnoticed by the oil markets. Instead, Russia remains the number one topic on the agenda - after its Central Bank was sanctioned, several banks cut off from SWIFT, new debt and equity was restricted even more than they used to be, and the prospect of seeing some 4.7 million b/d of crude flows (Russia’s average crude exports this year so far) sealed off grows. Despite the heavy-hitting sanctions and a string of oil majors hurriedly leaving Russia, there are very few signs that the Kremlin’s invasion of Ukraine will end soon. Uncertainty remains rife in oil markets and the price of both WTI and Brent are soaring. Facing the prospect of prolonged high oil prices, IEA members reportedly agreed on the release of 60 million barrels of oil from strategic storage, with half of the given volume coming from the United States.