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MNI Weekly: Latest Sanctions Showing Sharp Early Response

Executive Summary:

  • Latest Sanctions Showing Sharp Early Response: Sweeping sanctions against Russia’s dark oil fleet by Washington last week shows early signs of significant disruption for its trade in early tracking.
  • Oil Market: Crude prices are easing lower after reaching a high of $81.68/bbl on Jan. 13 amid tighter supply risks following fresh US sanctions on Russia. Sanctions have also boosted diesel cracks adding to support from colder weather across the US. US gasoline cracks rose after a suspected leak from a Colonial Pipeline gasoline line.
  • Analyst Views: See oil market views by biggest names in industry.

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Executive Summary:

  • Latest Sanctions Showing Sharp Early Response: Sweeping sanctions against Russia’s dark oil fleet by Washington last week shows early signs of significant disruption for its trade in early tracking.
  • Oil Market: Crude prices are easing lower after reaching a high of $81.68/bbl on Jan. 13 amid tighter supply risks following fresh US sanctions on Russia. Sanctions have also boosted diesel cracks adding to support from colder weather across the US. US gasoline cracks rose after a suspected leak from a Colonial Pipeline gasoline line.
  • Analyst Views: See oil market views by biggest names in industry.

Full piece here:

Keep reading...Show less