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Strategies & Market Trends : World Outlook -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (33908)	11/4/2022 12:10:23 PM
From: Les H	1 Recommendation Recommended By pak73 Read Replies (1) \| Respond to of 50826

Russian Oil Price Cap Will Not Apply To Resold Cargoes By Michael Kern - Nov 04, 2022 The United States and its Western allies have agreed that a cargo of Russian oil will only be subject to the price cap mechanism at the first sale of the oil to a buyer on land, sources familiar with the ongoing discussions told The Wall Street Journal on Friday. This means that the upcoming price cap will not apply to the resale of the same Russian cargo. The price cap will not apply to a cargo of Russian crude processed into gasoline when the gasoline is sold, either. However, intermediary sales and trades of Russian oil happening at sea should be subject to the price cap, according to the Journal’s sources. oilprice.com Looks like someone is trying to profiteer off of the 'price cap'. They expect prices to go much higher.