Will Cunliffe
Research Analyst, The Officials
Officer, I’d like to report a murder
Prices are getting battered, Qatar expects to raise LNG capacity to 80% in 2 months and China’s K-shaped economy deepens
Prices are getting battered, Qatar expects to raise LNG capacity to 80% in 2 months and China’s K-shaped economy deepens
Some fairly big things dear readers. As we indicated earlier, WTI would plunge to the 7 handle, and it has. And expect further downside in American markets as the pull from overseas will ease with those markets now able to get crude supplied by the Gulf Cooperation Council nations (not the Gulf Coast misnomer used by JD Vance). Brent therefore will also pierce the $80 defence line. The line of travel is clear to see. Dubai as well, down we go! All the premiums will start going negative and lifting on OSPs makes no sense. July OSPs are ‘irrelevant now’, noted a major contractual lifter as buyers will switch to cheaper spot.
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