14:00 Discussion on the pro-Ukrainian channels about Ukraine targeting of Russian oil depots and refineries is that it has caused a net drop in oil prices. The theory (I don't know if valid or not) is that disruption of Russian refineries has reduced Russian exports of refined products, but also forced Russia to export more raw crude. That is, prices for Diesel should be going up due to reduced supply (Russia has made provision to import from Belarus and/or Khazakstan if necessary), but oil prices are down due to a small increase in real supply on the export markets.
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Awesome insights as always, Damian
Thank you. Some food for thought.
14:00 Discussion on the pro-Ukrainian channels about Ukraine targeting of Russian oil depots and refineries is that it has caused a net drop in oil prices. The theory (I don't know if valid or not) is that disruption of Russian refineries has reduced Russian exports of refined products, but also forced Russia to export more raw crude. That is, prices for Diesel should be going up due to reduced supply (Russia has made provision to import from Belarus and/or Khazakstan if necessary), but oil prices are down due to a small increase in real supply on the export markets.
Very good presentation thank you compulsory listening