Impending Oil Supply Shortages - Strat. Oil Res. |Updates

[Irag8er]

Russian Deputy Prime Minister Alexander Novak says three tankers carrying Russian diesel are heading to the US, with a fourth expected to depart Wednesday, following a deal between Presidents Donald Trump and Vladimir Putin to ease sanctions in exchange for Russian diesel supplies. The agreement has drawn criticism from Ukraine and European countries.

https://twitter.com/x/status/2115088195834577140

 

[william]

https://twitter.com/x/status/2115088195834577140

Have any of those tankers actually made port in the US? I read that they got turned around.

 

[william]

Global oil prices are dropping fast and could keep falling. What it means for inflation.​

In Tuesday trading, crude prices extended a big November decline, pushing the global benchmark near to bear market territory—a 20% drop off an Oct. 30 high of $113.40—and its lowest level since August. Futures contracts for January delivery of Brent crude, the global pricing benchmark, were 0.9% lower on the session at $91.78 a barrel.

The continuing drop could suggest that investors expect pressures from the Iran war to fade and foresee another wave of selling in energy markets over the coming months. The move comes amid a changing environment: The White House has changed its tone again on Iran; there has been a long run of increased tanker traffic through the Strait of Hormuz, the world’s biggest energy transit; and China has surprisingly resumed importing crude.

Collectively, the rapidly changing nature of world energy markets has some analysts pointing to sharply lower prices for next year, suggesting that inflation pressures, as well as geopolitical tensions, could fade as a result.

“The market has continued to unwind some of the geopolitical risk premium built into prices in recent weeks as expectations grow that the conflict between the U.S. and Iran could move towards de-escalation,” said ING’s commodities strategist Ewa Manthey. “While signs that regional oil flows are recovering have added to the downward pressure.”

MSN

Global oil prices are dropping fast - Bing

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[DEFCON Warning System]

I had noticed that gas prices have dropped recently.