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

To: Goose94 who wrote (127544)	6/28/2022 12:40:02 PM
From: Goose94	Read Replies (1) \| Respond to of 202707

Crude Oil: Heading Back To US$120? As we predicted last week, the temporary weakness in oil prices coming from a widespread futures sell-off by speculators was nothing more than just a respite before another upwards climb. The unchanged physical tightness in oil markets, which can be seen from backwardation, combined with French President Macron highlighting the lack of spare production capacity of Middle Eastern oil producers stoked bullish sentiment. With Libya potentially losing another 300,000 b/d of its production/exports in the coming days, a jump above $120 per barrel later this week is very much on the cards. Western Powers Mull Russian Oil Price Cap G7 countries have agreed to explore imposing a ban on transporting crude that has been sold above a capped price, despite analysts warning that such measures dramatically increase the likelihood of sudden supply cuts from Russia. G7 Summit Might’ve Blown OPEC+ Narrative At this week’s G7 summit in Bavaria, French President Emmanuel Macron cited the heads of the UAE and Saudi Arabia, saying that both had informed him that they can barely increase production over the short term Oilprice.com