Will Cunliffe
Research Analyst, The Officials
Pipeline lifeline
An unremarkable summit, Australia’s LNG conundrum and China’s K shaped economy
An unremarkable summit, Australia’s LNG conundrum and China’s K shaped economy
Trump's visit with his dear friend Xi is over. What was achieved? Nothing very much. The main underlying issue was support to open the Strait and no, China is not into wars at this stage. This most likely means that the Strait will remain constrained for some time. And the flat price reflects that. We are at $107 plus for futures with a tendency to go further north. Markets are tight. And Middle Eastern producers are looking for ways out. The East-West Saudi pipeline has been somewhat of a get out of jail free card for Aramco, while the UAE’s pipeline to Fujairah has helped them offset some damage. But it’s not enough, so they plan to double it!
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