Will Cunliffe
Research Analyst, The Officials
It’s over before it started
Prices get a breather, KPC rescinded Force Majeure and Iraq is ramping up production, Asian oil buyers are feeling currency pressure and bar
Prices get a breather, KPC rescinded Force Majeure and Iraq is ramping up production, Asian oil buyers are feeling currency pressure and barnacles are increasing bunker demand?!
Day one of the MoU and year 47 of arguing. The agreement is blown as Iran accuses Israel/US of demonstrably violating the ceasefire for launching yet more attacks on Lebanon. The Iranians cancelled their trip to Geneva, and then so did Vance… Israel refuses to halt its bombardments, with some officials demanding even more extensive assaults – jeopardising the whole ceasefire…they call for more Lebanese mothers to suffer at a ratio of a thousand. As per the Israeli national security minister: 'For every tear of an Israeli mother, a thousand Lebanese mothers must weep. All of Lebanon must burn!' Prices are edging back towards $80 again as a result. The structure showed the real gains, with the prompt spread back above 50c after the selloff down to almost flat on Wednesday. More crude has been flowing, so prices are lower and the trajectory is downwards, unless the war kicks off again.
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