China's private refiners snap up Middle East oil as prices slide

OIL PRICES PLUMMET AND RUSSIAS REALITY WORSENS The price of crude oil for delivery in three months is crumbling and the reality for Russia is incredibly harsh. With caps and forced discounts the reported crude price for Urals oil is down to $45 a barrel. Russia thought the Iran war would bring huge

Putting it another way: we’re experiencing the distance between the paper and physical economies. Financial markets get headlines, but the rise then fall of oil prices was driven by speculators (as futures are supposed to be). The physical problems move slower, and haven’t really hit yet. (END)

“America has never been stronger than it is now, and Gas Prices will soon be back to the Record Low Prices Americans enjoyed at the pump before our very successful ‘excursion’ in Iran.”

In Krasnoyarsk the Achinsk Neft and Region 24 independent gas station chains have informed local media that the Achinsk Oil refinery operated by Rosneft has stopped selling them fuel and thus they are considering either significantly raising prices or closing down.

Okay so interesting oil market stuff. A lot of the stuff getting out of hormuz is crude oil. At the same time russian refining is like really dying, the number i just heard was runs down by half. So the spreads on diesel are really blowing up while crude prices are going way down

It recently received 50,000 tons of emergency supply from Kazakhstan, 30,000 from Belarus and is seeking to import up to 400,000 tons per month in total at standard market rates. ​Consequently, russia is now buying back its own oil in refined form at premium prices. 4/

I previously estimated that the Iran war was worth 300-400bn rub/month to Russia. If oil prices are truly down this much, then they should be back to the prewar trajectory. Taxes will be affected from August onwards.

Are Bioplastics Ready to Punt Oil-based Plastic to the Curb? Can volatile oil prices accelerate the shift away from petroleum-based plastics? After the Strait of Hormuz, anything is possible. #bioplastic youtu.be/-fbfvX_UtAQ

At least the cash isn’t on a pallet. More seriously, this is a feature not a bug. They want to crash the oil price for the midterms and have negative MoM CPI prints. If you can’t get your voter suppression law passed, “prices at the pump” is the next best thing. Oil to $50.

Oil tanker traffic through the Strait of Hormuz has almost fully normalized. That means oil is back to trading macro. The recent fall in oil prices is about the perception that the Fed's reaction function is shifting hawkish and - today - weak payrolls... robinjbrooks.substack.com/p/requiem-fo...

Oil tankers in the Strait of Hormuz face a “forceful response” from Iran if they deviate from state-approved routes. As military tensions spike following the death of Iran's Supreme Leader, this chokehold on international shipping threatens to drive up global gas prices for daily commuters.

“Crude prices collapsed by almost 30% last quarter — wiping out all of the gains from the conflict — as the US & Iran struck an interim peace deal”. 🙋‍♀️ Was this illegal & unconstitutional war simply a ploy to up oil demand & price? financialpost.com/pmn/business... www.reuters.com/markets/comm...

The ongoing fuel crisis in Russia is affecting neighboring Central Asian nations. Russia has suffered a loss of over 25% of its oil refining capacity due to strikes in Ukraine, leading to disruptions in supply and increased fuel prices. 2/5

Ristiriitaiset ovat talouden viestit: maailmalla ennakoidaan Hormuzin sotkun vasta alkavan vaikuttaa, meillä kasvua; "Johns Hopkins economist Steve Hanke warned the US is heading toward an economic catastrophe unless the Strait of Hormuz reopens and oil prices retreat from their war-driven highs."

The Orange Felon claims lowering oil/gas prices are sign the Iran War is over, the oil supply is returning to normal and he has created the greatest economy ever seen. The author disagrees, and there is merit to their argument. www.msn.com/en-us/money/...