Catch up on this bloomberg A (walled) block on Iranian oil exports:
- Exports jumped to the highest level since the reimposition of US sanctions in 2018
- The vast majority flow to China
Bloomberg cites two different analysts:
- Crude oil
Crude oil
Crude oil is the most traded instrument in the energy sector, presenting global market conditions, geopolitical risks, and economics. The tool is strategically relied on and located in the global economy. Crude oil has proven to be a unique choice for traders due to the volatility and effectiveness of both swing trading and long-term strategies. Despite its popularity, crude oil is a very complex investment tool, due to the fluctuations in oil prices and the risks involved.
Crude oil is the most traded instrument in the energy sector, presenting global market conditions, geopolitical risks, and economics. The tool is strategically relied on and located in the global economy. Crude oil has proven to be a unique choice for traders due to the volatility and effectiveness of both swing trading and long-term strategies. Despite its popularity, crude oil is a very complex investment tool, due to the fluctuations in oil prices and the risks involved.
Read this term Shipments have doubled since last fall, reaching 1.6 million bpd in May
- Production reached 2.9 million barrels per day, the highest level since late 2018
This adds to inflows from other sanctioned countries such as Russia and Venezuela, all of which increase global supply and are a headwind for prices.