Will Cunliffe
Tensions rise again, the Artic is an ace card for Russia and China and The Officials saw a job advert for seafarers to transit the Strait...
Asia is away on holiday, but the Middle East war shows no signs of taking a break. The Houthis attacked Jazan refinery again – a fire has been extinguished according to the energy ministry. Meanwhile the factions in Yemen continue to shoot at each other. And Netanyahu refuses to withdraw from Gaza until Hamas disarms completely. Also, Iran hit another oil tanker off the Omani coast. The new Mecca Joint Defense Agreement between Saudi Arabia, Turkey and Pakistan put a bee under the Iranian bonnet as well – tensions are heating up yet again…Flat price opened higher after the weekend, jumping to above $84. The morning was quiet with Asia on holiday, but prices leapt to almost $87 by the afternoon. Despite flat price’s strength, the prompt spread declined from over $2 at the open to $1.76 by the European close.
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