Thursday, June 13, 2019

OPEC On The Ropes -- June 13, 2019

June 14, 2019: I'm surprised Iran has not yet blamed Israel for the attack on those two tankers. 

June 14, 2019:


June 13, 2019: the meme that oil prices surged after the tanker strikes is bogus. At close of trading today:
  • WTI: down 13 cents, trading at $52.15. 
  • Brent crude, off which Saudi bases its price: up one cent, trading at $61.32
  • OPEC basket: at $1.55 and trading at a whopping $61.01
June 13, 2019: Tanker strikes spell doomsday scenario for OPEC -- oilprice.

June 13, 2019: Iran torpedoes two oil tankers in the Strait of Hormuz. [Later: that was the initial report, but since then it appears that Iran had nothing to do with this -- it just happened. Time to move on]
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