Global oil markets are experiencing volatility due to several factors, including the Biden administration's sanctions against Russia's shadow fleet, rising demand from Asian refiners, and geopolitical uncertainties surrounding Libya and Colombia.
Oil prices have remained relatively rangebound following Trump 's first week in office despite a significant amount of media noise and political news.- The ramifications of the Biden administration's sanctions on Russia's shadow fleet continue to roil oil markets, with the Brent-Dubai spread traded on ICE Futures expanding to its widest since at least 2015.
Oil loadings from two key Libyan ports, Es Sider and Ras Lanuf with a combined capacity of some 450,000 b/d, have been brought to a standstill after protesters blocked the sites, demanding that the state oil firm NOC relocate to the country's east.Chinese Teapots Halt Runs as Losses Deepen.
Energy OIL PRICES DUBAI RUSSIA CHINA TRUMP
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