We know what’s coming and we are prepared.
š¢ Oil markets could be a month away from the moment of truth. Brace for a ānon-linearā price spike and panic buying, analysts warn
Dire warnings about oil supplies are coming from everywhere lately as the Strait of Hormuz remains largely closed while President Donald Trumpās trip to China failed to produce a breakthrough to reopen the critical waterway.
While investors have been trading on hopes that the Iran ceasefire will remain intact, there is little sign that the oil trade will return to normal soon, forcing them to reckon with the reality of worsening shortages and an imminent tipping point ahead.
JPMorgan predicted that commercial oil inventories in the developed world could āapproach operational stress levelsā by early June. Saudi Aramco said global inventories of gasoline and jet fuel could reach ācritically low levelsā ahead of the summer.
The International Energy Agency warned the world is drawing down oil inventories at a record pace, with 164 million barrels released by governments and industry as of May 8.
āRapidly shrinking buffers amid continued disruptions may herald future price spikes ahead,ā IEA said in its lately monthly report.
The U.S. and Israel launched their war on Iran two and a half months ago, and analysts expected the Strait of Hormuz to reopen by the end of May or early June.
Thatās looking less likely as Iran attacks ships in the Persian Gulf while the U.S. military is still enforcing a blockade on Iranian oil. Meanwhile, the Navyās efforts to reopen the strait with warships is on hold.
āBut if the Strait remains effectively closed and commercial oil inventories in the OECD continue to be run down at the same pace as they were in April, oil stocks could reach critically low levels by the end of June,ā Hamad Hussain, climate and commodities economist at Capital Economics, said in a note on Wednesday.
He estimated oil prices could top $130-$140 a barrel next month if the strait remains closed and inventory depletion rates remain steady.
On Friday, Brent crude futures gained more than 3% to close at $109.26 a barrel as China offered no hints that it would lean on ally Iran to normalize tanker traffic.
Meanwhile, hereās Don Jr. worshipping at the feet of another demon god in India.
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The village of Piddington has voted for independence from the United Kingdom and to become a self governing village in a landslide vote.
91% Voting Leave
This comes after news that over 3,000 illegal migrants are to be dumped in their village.
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Ukraine looking to seize assets of UOCās Family Affairs Department
https://orthochristian.com/180404.html
The Sixth Administrative Court of Appeal opened proceedings on September 22 in the case, which was filed by the state service against the religious organization known as the Synodal Department Mission of the Ukrainian Orthodox Church for Family Affairs. The agency wants the department liquidated and all its property, funds, and other assetsāexcept for liturgical itemsātransferred to state ownership.
Disgraced Former Harvard President Claudine Gay Rehired to Teach Course on āPolitics of Race and Immigrationā
These studies suggests that blood donated by COVID-19-vaccinated individuals may contain biologically active vaccine-derived constituents that could cause adverse clinical outcomes in recipients.
