Although oil markets are tight, there is the potential for price crash later this year.
On the supply side, the potential for bearish move is limited, especially for a sudden move. A restoration of the JCPOA with Iran would be such a move as it would quickly add about 1 mb/d to the market. The chances of a surge in production from the three OPEC+ countries with the most spare capacity—Iraq, Saudi Arabia and the U.A.E.—seems unlikely given their adherence to quotas over the past several years.
But, as oil trader Hamlet would say, there’s the rub. The gorilla in the room is the Fed, which seems inclined to throw poo at us . Recently, stock markets took a hit from expectations of higher interest rates, selling on the rumor but then buying on the downdip.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
EUR/JPY Price Analysis: Next on the downside comes 127.50EUR/JPY resumes the bearish trend and leaves behind Wednesday’s uptick. Price action in the cross keeps signalling a scenario of lower prices for the
Les mer »
A rocket booster could crash into the moon in the next few weeksThe SpaceX Falcon rocket stage used in 2015 to launch the US Deep Space Climate Observatory will soon crash into the moon. Researcher Bill Gray said the rocket part would hit the far side of the moon a bit north of its equator in early March.
Les mer »
China’s zero-COVID strategy: what happens next?With Omicron or Delta outbreaks already in multiple provinces, scientists say next week’s Winter Olympics will present a major test of China’s zero-tolerance approach.
Les mer »
China’s zero-COVID strategy: what happens next?With Omicron or Delta outbreaks already in multiple provinces, scientists say next week’s Winter Olympics will present a major test of China’s zero-tolerance approach.
Les mer »
Kremlin offers frosty response to Blinken letter as world waits for Putin's next moveThe Kremlin has given its response to U.S. security proposals that were hand-delivered to Moscow on Wednesday, saying it believes Russian views had not been taken into account.
Les mer »
Health check newsletter: England lets covid-19 rip: What happens next?As covid restrictions are relaxed in the UK, we look at how these new policies could play out
Les mer »