IMG.gif
spot cargo markets

Supply Concerns Spark Fresh Bull Run

Copyright © 2022 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
ss1600259449-trading-bull

Omicron demand fears are taking a back seat despite new Covid-19 travel restrictions and staff shortages triggering mass flight cancellations and hitting jet fuel demand this year. Instead, it was supply concerns that propelled international benchmark Brent toward $85 per barrel this week. Market bulls see oil demand recovering further from Covid-19 this year, with supply falling short due to a lack of upstream investment through the pandemic. An acute lack of Opec-plus spare capacity has prompted many analysts to predict a new supercycle in oil. Brent gained $2.48/bbl this week to close at $84.47/bbl Thursday while US price-pin West Texas Intermediate rose $2.66/bbl to finish at $82.12/bbl.

Topics:
Jet Fuel, Oil Spot Markets, Crude Oil, Oil Demand, Oil Inventories, Oil Supply, Oil Trade
#
The flag carrier is relying solely on pipeline deliveries into Germany's largest airport after declaring barge deliveries too dangerous.
Fri, Aug 12, 2022
Floating prices allow traders to mitigate the risk of huge daily price swings since Russia's Feb. 24 invasion of Ukraine.
Fri, Aug 5, 2022