Will Cunliffe
Research Analyst, The Officials
No safe harbor
Dated Brent finds support, Lloyd's Market Association increase the war risk premium zone and Saudi is routing more crude through Sidi Kerir.
Dated Brent finds support, Lloyd's Market Association increase the war risk premium zone and Saudi is routing more crude through Sidi Kerir.
The danger zone is expanding. Bad news for insurance costs! Lloyd’s Market Association increased the zone where underwriters can impose war risk premiums – now it even includes Yanbu…The morning shenanigans at CPC, in which tankers were hit again, saw the Dated Brent market get a serious boost. CFDs surged, as the August rolls all jumped to over $1, the DFL climbed, and the physical window finally caught a bid after the rapid selloff from last week’s spike. Equinor bid Forties for 20-28 Aug at Dated +$1.70 and 20-25 Aug Ekofisk at Dated +$3.50. Trafi came in offering Johan Sverdrup for 19-23 Aug at Dated +$6.75. The Jaarli tanker, from which BP offered Brent, has changed its declared destination from Rotterdam to Brunsbuettel in Germany.
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