Will Cunliffe
Research Analyst, The Officials
Let the best performer win
Brent price dumps further whilst Shell and Totsa square off
Brent price dumps further whilst Shell and Totsa square off
Trump is desperate to talk down oil prices as Americans are running out of patience. Hence the nonsense flow quickens with headlines about vague progression between the Iranians and Americans. But substance is lacking. The Asian market didn’t pay much attention to it and kept moving sideways but from 08:00 BST, the Europeans crushed it and flat price dumped more than three bucks in just 15 minutes. Prices hit a low of $97.50/bbl. We await proof of reports Iran will hand over a large chunk of its enriched uranium to a third-party country (which remains anonymous) in exchange for a gradual reopening of the Strait. All these comments are nonsense until Iran confirms them! As always, this rumour lacks detail and specificity. Don’t trust the headlines, they are usually bear or bull traps…
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