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

To: Goose94 who wrote (121402)	3/5/2022 7:00:41 AM
From: Goose94	Read Replies (1) \| Respond to of 203430

Crude Oil: One Of The Wildest Weeks In Modern History For Oil Markets Russia’s invasion of Ukraine has triggered arguably the wildest week in oil trading since Saddam Hussein’s attack on Kuwait back in 1990 - in fact, it was exactly 33 years ago that the oil markets were this backwardated. The risk of Russian barrels being barred from oil markets pushed prices to their highest level since 2008, with WTI touching $116 per barrel on Thursday and ICE Brent coming within touching distance of $120 per barrel. The war still rages on in Ukraine and, despite rumors reappearing about an imminent nuclear deal with Iran, there is still some work to do to finalize the nuclear covenant. As if this were not enough, renewed riots and force majeure events in Libya might trigger another civil war which would almost certainly push oil prices past the $120 per barrel next week. The Biden Administration announced another round of sanctions as it banned the export of specific refining technologies to Russia and Belarus, making it harder for both countries to modernize their downstream assets. Oilprice.com