$TRUMP
$XAU Oil continues to transit through the Strait of Hormuz despite
war risks
It appears that the Strait of Hormuz has not fully stopped oil movement, despite rising security risks. Major companies are continuing to ship crude through this vital corridor, driven by large discounts from producers that offset higher shipping and insurance costs.
Patrick Pouyanne, CEO of TotalEnergies, said the company continues to transport oil through the strait profitably. He noted that the crude is sold at discounts of up to $30 per barrel compared with the Brent price, making the additional transit cost manageable.
Brent crude had surpassed $90 per barrel, while some crude coming from the region is sold at levels ranging between $50 and $60 per barrel, according to Pouyanne, as producers need to unload their supplies and reach markets.
#BTCReaches$80000 #OilHoldsLosses #KOSPI200NightFuturesFall1.77% #GoldHits$4700EndingSixMonthCorrection #SKHynixFalls5.63%AfterUnionRejectsWageDeal
$XAU Oil continues to transit through the Strait of Hormuz despite
war risks
It appears that the Strait of Hormuz has not fully stopped oil movement, despite rising security risks. Major companies are continuing to ship crude through this vital corridor, driven by large discounts from producers that offset higher shipping and insurance costs.
Patrick Pouyanne, CEO of TotalEnergies, said the company continues to transport oil through the strait profitably. He noted that the crude is sold at discounts of up to $30 per barrel compared with the Brent price, making the additional transit cost manageable.
Brent crude had surpassed $90 per barrel, while some crude coming from the region is sold at levels ranging between $50 and $60 per barrel, according to Pouyanne, as producers need to unload their supplies and reach markets.
#BTCReaches$80000 #OilHoldsLosses #KOSPI200NightFuturesFall1.77% #GoldHits$4700EndingSixMonthCorrection #SKHynixFalls5.63%AfterUnionRejectsWageDeal
