Will Cunliffe
Research Analyst, The Officials
Back down under
Brent is back below $100 and Murban mania continues! Trump's offered to pay for tanker damage incurred in the Straits with Iranian funds whi
Brent is back below $100 and Murban mania continues! Trump's offered to pay for tanker damage incurred in the Straits with Iranian funds whilst also rebuilding his tariff wall, LNG is in hot demand in Asia and the JKM price is reflecting that.
An absolute dumper in markets today! After yesterday's price explosion there's been an almost as impressive reversion: Sep Brent closed just above $98/bbl after reaching highs of $102/bbl last night. Sep Murban stole the show once again though, as it fell almost $16/bbl to $95.84/bbl! Market participants are likely reducing their risk exposure going into the weekend and taking profits from yesterday, or perhaps they're anticipating some TACOs come Sunday. And speaking of TACOs, the blobby orange man lodging in the White House has made a lot of noise even by his standards. He declared that from this point on, any damage to ships or cargoes in the Strait will be paid for out of Iranian money the US holds.
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