"Premiums Are Going Nuts Everywhere": Plunging US Supply Sends Oil Prices Around The World Soaring
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
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ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
Oil prices are set for another weekly gain due to tight supply and resilient demand, although concerns about interest rate hikes and Saudi Arabia rolling back cuts added some downward pressure.
(Bloomberg) -- Oil buyers across the planet are facing some of the highest premiums for supplies they’ve seen in months — or longer — as dwindling stockpiles at the largest US storage hub reverberate through markets from Asia to the Middle East to Europe. Most Read from BloombergPakistan Rupee Set to Become Top Performing Currency Globally Biden Impeachment Hearing Heavy on Politics, Light on SubstanceUAW Aims For At Least 30% Wage Bump to Woo New Members‘Fortnite’ Maker Epic Games Is Cutting Ab
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The price of Brent crude, the international benchmark, has gained about 30 per cent since the start of July, trading at about $US96.50 a barrel on Wednesday.