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Page added on October 9, 2019
Trade Talks Loom Over Oil
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– S. oil exports increased from an average of 966,000 bpd in the first half of 2018 to an average of 2.9 mb/d in the same period this year.
– In June 2019, the U.S. set an average monthly record high of 3.2 mb/d.
– The U.S. still imported 4.2 mb/d in the first half of 2019, but that was down sharply from 6.1 mb/d in the first half of 2018.
Market Movers
– Occidental Petroleum (NYSE: OXY) will delay its plans to divest part ownership in pipeline operators Western Midstream Partners (NYSE: WES) until next year because it could not find attractive offers.
– Continental Resources (NYSE: CLR) and Whiting Petroleum (NYSE: WLL) were both downgraded by Credit Suisse.
– Chevron (NYSE: CVX) bought a 40 percent stake in three deepwater blocks held by Royal Dutch Shell (NYSE: RDS.A) in the Gulf of Mexico.
Tuesday, October 8, 2019
U.S.-China trade talks resume on October 10, a high stakes negotiation that leaves the global economy in the balance. Bloomberg reported that China is likely going to attempt to narrow the talks, removing any proposal of reforms to industrial policy and intellectual property. With the Trump administration on the backfoot due to a weakening economy and a mushrooming impeachment investigation, Beijing may believe it has the upper hand. That does not bode well for a trade breakthrough.
Trump plans Syria withdrawal. Turning back on a longstanding partnership with Kurdish allies, President Trump said that Turkey was free to launch an invasion to sweep aside Kurdish fighters in Northern Syria. The move sparked a bipartisan rebuke, denouncing Trump for abandoning allies.
China pulls out of Iran gas project. CNCP has exited a $5 billion natural gas project in Iran due to pressure from U.S. sanctions. Iran had hoped that CNPC would take over from Total SA (NYSE: TOT), which withdrew in the face of sanctions last year. The departure of CNPC is another blow to the Iranian economy.
Sec. Perry engulfed in impeachment inquiry. Secretary of Energy Rick Perry reportedly attempted to install two U.S. executives onto the board of Ukraine’s Naftogaz, sweeping him into the center of the impeachment inquiry in the United States. He has denied any involvement. Related: See Why Tech Billionaires Are Diving Into The Space Race And How You Can Profit
Saudi Arabia and Iran quietly try diplomacy. Saudi Arabia and Iran are tentatively opening a diplomatic avenue to de-escalate tension, dramatically reducing the odds of a hot war. The New York Times reports that the Trump administration’s refusal to attack Iran led to the thaw, as Riyadh came to the conclusion that it cannot count on Washington. “The anti-Iran alliance is not just faltering, it’s crumbling,” Martin Indyk, a distinguished fellow at Council on Foreign Relations and a former senior diplomat, said Thursday on Twitter. “MBZ has struck his deal with Iran; MBS is not far behind.”
Tighter oil market in 2020s? While oil futures over the next few years remain subdued, a new report says that the market could tighten up significantly in the 2020s, cutting against a narrative of peak demand and oversupply. “[W]e are increasingly confident that failure of demand growth to crater, much less peak, constitutes the next big ‘surprise’ in the oil market,” Rapidan Energy said in a note. Spare capacity is “too low to cap prices, much less mitigate geopolitical risk.” The consultancy is skeptical of the mass adoption of EVs and says demand will continue to rise.
Trump admin opens 725,000 acres in California for drilling. The Bureau of Land Management opened 725,000 acres in California for oil and gas development.
Permian flaring stays near record high. The rate of flaring and venting in the Permian basin stabilized in the range of 600 million to 650 million cubic feet per day in the third quarter, according to Rystad Energy. The recent startup of the Gulf Coast Express natural gas pipeline could reduce venting and flaring in the fourth quarter. “However, it should be noted that the significant number of new well connections in the second half of 2019 might result in a sustained high flaring level, because from an operational perspective, associated gas flaring is normal in the first two weeks following an oil well completion,” Artem Abramov of Rystad Energy said in a statement.
EP Energy Corp. files for bankruptcy. EP Energy Corp. (OTCMKTS: EPEG) filed for bankruptcy protection, and with debt at $4.6 billion, it is the largest bankruptcy filing in more than three years.
Tesla could lose 80 percent of its value. Tesla (NASDAQ: TSLA) could lose 80 percent of its value or disappear entirely according to an NYU professor of business. “Tesla doesn’t have the scale to compete in a well-run, low-margin business — auto,” he said. Related: Is Bill Gates Right On Energy Investing?
Venezuela production falls to 600,000 bpd. Venezuela’s oil production fell sharply in September to 600,000 bpd, down from over 700,000 bpd a month earlier. Poor infrastructure, brimming inventories and a lack of oil tankers docking at Venezuela’s ports forced upstream production shut ins.
Credit redetermination could hurt U.S. shale. For the first time since 2016, lenders could cut the credit available to shale drillers, which could tighten the noose on the shale boom. According to a survey from Haynes and Boone, a majority of respondents – including both oil and financial executives – expect tighter credit conditions in the latest redetermination period.
Oil shipping costs soar. The cost of chartering a very large crude carrier (VLCC) from the U.S. Gulf Coast to Asia has spiked by $10 million, or $5 per barrel, in the wake of American sanctions on a Chinese shipping giant. The move comes at a time when another portion of tankers are sidelined as they are undergoing maintenance ahead of IMO regulations on maritime fuels. The soaring cost of shipping could curtail U.S. oil exports, which may depress WTI relative to other benchmarks. “Asia has been pulling barrels from everywhere,” Michael Tran, an analyst with RBC Capital Markets, told the WSJ. “If it becomes uneconomical to ship U.S. barrels to Asia, that essentially leaves barrels stranded in the U.S.”
Big Oil sells high-carbon assets…but emissions may not decline. Under pressure from shareholders, the oil majors are exiting high-carbon projects. But divestment often means offloading the project to a smaller company who has more aggressive plans for development. The conundrum is a major challenge as the oil industry seeks to lower emissions.
37 Comments on "Trade Talks Loom Over Oil"
Robert Inget on Thu, 10th Oct 2019 11:04 am
At this stage, (act 3) oil is indeed America’s only ‘trump card’.
Chinese crude production is, to put it mildly ‘in the toilet.
China, out of serious need, pushed hard to cut a trade deal.
Trump is a dead President walking. He too needs
to get something, anything, to calm markets.
http://www.livecharts.co.uk/MarketCharts/crude.php
Oil is five bucks cheaper today after at least 3 MM
B p/d removed from markets.
If Trump can somehow hold oil under $60 in spite
of his Turkish/Russian invasion, US exports to China might resume. China knows, as do a majority of Americans Trump in his current state
a danger to our democracy and economy.
Personally, I’m hoping for the first US Military, CIA, FBI, intervention. Enough drip drip, just arrest the lunatic before he kills again.
Cloggie on Thu, 10th Oct 2019 3:04 pm
“Personally, I’m hoping for the first US Military, CIA, FBI, intervention. Enough drip drip, just arrest the lunatic before he kills again.”
Trump shines in that he DIDN’T kill on a large scale, very much unlike most of his predecessors.
#TrumpForNoblePeacePrize
But Bobby apparently is eager to get CW2 started, like everybody in Eurasia is, but I digress.lol
Be careful with what to wish for. Your country and hence your beloved deep state could be over by Christmas.
#FourMoreYears!
Cloggie on Thu, 10th Oct 2019 3:14 pm
How they operate:
https://www.nytimes.com/2019/10/08/world/europe/unit-29155-russia-gru.html
“Top Secret Russian Unit Seeks to Destabilize Europe, Security Officials Say”
Written by a Michael Schwirtz, a NYT scribe and no doubt a jew.
More RussiaGate baloney.
Our resident mobsters I Am THE MOB and Bobby Inget HATE it that a goy has captured the presidency, because the longer he holds office, the greater the loss of prestige of the deep state is and the less credible the “sitting DJT out”-strategy becomes.
Meanwhile China gets stronger, Russia consolidates, the EU is escaping from Anglo-Zionist orbit with the British watchdog retreating and parts of the US MSM flirts with white nationalism. And in Germany 80 jews narrowly escape an attack.
Things don’t look good at all for Mobby and Bobby their tribe.
Love it.
Cloggie on Thu, 10th Oct 2019 3:37 pm
Brexit: hint at possible last-minute breakthrough
https://www.theguardian.com/politics/live/2019/oct/10/brexit-latest-news-boris-johnson-varadkar-corbyn-no-deal-would-put-lives-at-risk-says-former-chief-medical-officer-live-news
“Varadkar says new agreement ‘possible’ by end of October after talks with Johnson – live news”
Meanwhile in Rotterdam, the Netherlands has found a last minute hole in the Northern Irish backstop:
2-1
Oops:
3-1
supremacist muzzies jerk on Thu, 10th Oct 2019 8:45 pm
muzzies suspected of kidnapping of couple in phils. supertard christine douglas williams SAW SAWS swt pbuH reports.
phils can’t built a muzzie amputation device using my blue print. UK and France can’t build it either. Duterte shoots every druggies but wouldn’t throw muzzies in muzzies amputation machine
Stupid on Thu, 10th Oct 2019 8:59 pm
Juanpee
supremacist muzzies jerk said muzzies suspected of kidnapping of couple in phils…
Another Davy Sock on Thu, 10th Oct 2019 9:05 pm
Stupid on Thu, 10th Oct 2019 8:59 pm
Sissyfuss on Thu, 10th Oct 2019 9:12 pm
People are taking to the streets in countries around the globe, including some in China. Quality of life is becoming harder to procure in the age of growing populations and shrinking resources. A major catalyst in the unending uprisings in Honk Kong is said to be a need to work 80 hrs a week to afford a closet for a home. Soon we’ll have dueling protests between Extinction Rebellion and Trumps porn stars.
supremacist muzzies jerk on Thu, 10th Oct 2019 9:22 pm
Supertard sis did you enjoy the piece about China dumping trash in Atlantic ocean? It’s good read for xie lovers and non xie lovers alike. This by no mean I’m against Chinese rounding up of muzzies for anti rape machine muzzies amputation machine and muzzies hamster machines
I support it wholeheartedly
Davy on Thu, 10th Oct 2019 9:33 pm
I told you not to cum in my mouth JuanP. You should have lissened stupid. Us pussies hold widdle grudges for a REAL Long time.
dumbas
Davy on Thu, 10th Oct 2019 9:34 pm
Oops, I meant to say dumbass, not dumbas.
stupid dumbasess
SuperTard Reports on Thu, 10th Oct 2019 10:14 pm
90% of all plastic pollution originates in China, Vietnam, Philippines, India.
Cloggie on Fri, 11th Oct 2019 1:49 am
Iranian oil tanker hit in the Gulf from Saudi territory:
https://www.dailymail.co.uk/news/article-7561679/Iran-reports-Explosion-Iran-oil-tanker-Saudi-Arabia.html
“Iranian oil tanker ‘is hit by two MISSILES’ in ‘terrorist’ attack off of Saudi Arabia that caused explosion and heavy damage”
Good news for the European renewable energy industry.
And for Greta and the rest of the extinction crowd.
Davy@liar/hypocrite/fraud.com on Fri, 11th Oct 2019 6:30 am
Hi Everyone:
Please read my quote at the bottom for a random example of my civil commentary. Please note my polite, moderate, and balanced approach. You will see why I like to bitch and whine that I am a victim.
~~Doesn’t matter if a comment is directed at me, when I disagree I attack using a familiar bag of tricks including playground taunts, insults, and anything else personally demeaning.
~~If I disagree, I accuse the poster of being a “foreigner”, then I tell them to get out of my country.
~~I address people with condescending names.
~~I make statements without evidence.
~~I always work “hate” into my comments.
~~ALWAYS moderate and neuter stupid Democrats and lying liberals.
“Bobby, your side is destroying the constitution and corrupting the public domain. Extremist American hating liberals like you need to move to Canada where you belong. Oh, I forgot, you are rich so try an ocean side villa in mexico”
Davy on Fri, 11th Oct 2019 7:29 am
Go fuck yerself JuanP
cuntlips
supremacist muzzies jerk on Fri, 11th Oct 2019 7:46 am
hello supertard, did you enjoy the piece about china dumping garbage in the atlantic? it stinks up your beachfront house.
https://www.breitbart.com/environment/2019/10/03/study-chinese-cargo-ships-dump-73-trash-atlantic-ocean/
i like how you’re balanced. you said phils had problem with trash.
i just want to bring you some light and enjoyable reading materials. i don’t want to bother you too much. i don’t hate china, i love them for rounding up muzzies for the anti rape machine, the muzzies amputation machine, and the muzzie hamster machine. i really like china except a little less dumping, that’s all.
you’re cool, i’m cool, we’re all cool.
Obviously JuanP garbage on Fri, 11th Oct 2019 7:58 am
supremacist muzzies jerk said hello supertard, did you enjoy the piece about chi…
Davy said Go fuck yerself JuanP cuntlips
Davy@liar/hypocrite/fraud.com said Hi Everyone: Please read my quote at the bottom fo…
Davy@liar/hypocrite/fraud.com said Three examples among many to demonstrate just how…
who care juanP on Fri, 11th Oct 2019 7:59 am
get over you hurt feelings pussy. Let others have a chance to comment you selfish bastard
Davy on Fri, 11th Oct 2019 8:00 am
For anyone that cares. Cuntlips is the worst name us fags can ever call each other.
Douglas Gardens on Fri, 11th Oct 2019 8:01 am
You need to be check in somewhere JuanP
supremacist muzzies jerk on Fri, 11th Oct 2019 8:28 am
hello supertard, please tell illuminati to bring down the dow so i can get in. i missed the boat. but i’m a patient operator and i’ll wait.
other than that please enjoy my link on chinese dumping garbage.
also, please post some postive articles on how china is rounding up supremacist muzzies for anti rape machine, muzzie amputation machine, and muzzie hamster machine.
thank you supertard, have an awesome day.
Robert Inget on Fri, 11th Oct 2019 9:30 am
INTELSky
@Intel_Sky
· 5h
#BREAKING According to #OSINT, the Iranian Oil tanker was hit at 0500, fired two missiles from an Israeli gunboat, which started at 2300 hours, from the Israeli naval base on the island of Dahlak Eritrea. Then spotted at 0245 sailing 34 km south-east of Port Sudan.
Robert Inget on Fri, 11th Oct 2019 10:19 am
Trump lit the fuze.
Israel shot up that Iranian tanker hoping Iran would take on Saudi Arabia.
Some here may recall Israel failed to sink a lightly armed US Navy ship with the intention of getting the US to counter attack Egypt.
https://en.wikipedia.org/wiki/USS_Liberty_incident
Trump and his boss Putin failed to destroy the US economy with his ‘War on Trade’ got the order to
withdraw US troops from N Syria handing Syria’s oil to Russia.
And the band played on.
Duncan Idaho on Fri, 11th Oct 2019 10:29 am
“The craziness of the Trump era — which is distributed pretty equally between both factions — represents the failure of all involved to cope with the mandates of reality, which really exist despite the illusions of our realty television zeitgeist.”
supremacist muzzies jerk on Fri, 11th Oct 2019 10:36 am
Duncan Idaho on Fri, 11th Oct 2019 10:29 am
duncan the tard, day after day you sit in front of the computer without mosquitoes, garbage, open defecation, screwflies, the elements. it seems you’re not part of the “mandate” to me. would you like to be considered for supertard? appointed or natural, supertards are all the same, almost identical with the differences not implying less preferential treatment by society or any one.
Duncan Idaho on Fri, 11th Oct 2019 11:02 am
Afghanistan and Iraq are two particular wallet-emptiers that drain the US’ budget.
Robert Inget on Fri, 11th Oct 2019 11:10 am
Duncan et all,
Pay no attention to bots.
Whoever installed these ‘guys’ are trying to kill of the site for political reasons.
You are all living through one of the most important turning points in the history of humankind. Pay attention. You will never forget
this period.
supremacist muzzies jerk on Fri, 11th Oct 2019 11:24 am
Robert Inget on Fri, 11th Oct 2019 11:10 am
robert the tard, you’re the censor, not me buddy.
address my question instead of evading it.
premise:
day after day robert inget and duncan idaho the tards pound on the computer and alternate with scratching balls.
conclusion:
are they removed from the elements, diseases, disentry, garbage, open defecation (the natural world) or are they not.
question:
if not, why are they preoccupied with “reality?”
Robert Inget on Fri, 11th Oct 2019 11:28 am
Only two nations, the US and Russia on the UN Security Council voted down santionning Turkey.
Turkey knows, even Trump knows, hundreds of thousands of Kurds and ISIS fighters and their families will flee to Europe.
When asked about the obvious ISIS revival and refugee crisis, Trump couldn’t think of another lie.
Trump didn’t dare ask any of our guys on the Security Council, he knew what they would say.
Trump follows Putin’s orders.
Wake up Republicans or go down with Trump.
We have over 17 different intel services.
All are in agreement, either impeach this evil
con man or learn to speak Russian.
supremacist muzzies jerk on Fri, 11th Oct 2019 11:42 am
how to think:
i’m not here to teach you how to think because it would be like those who can’t think, teach people to think. i used to flip through a thick book of bartlett quotations and look for the subject i want to comment on. i think it makes my argument very good sounding.
i have a sneaky suspicion that supertards have something like this in their backpockets. i think supertard big muzzie beard #2 thinks that the whole PO is too huge and he can cut a slice through it whenever he wants. I’m not saying he’s dishonest but maybe he’s convinced that nobody knows for sure. if pushed he’ll reach deep into his front pocket with the pcoket protractor and realize the whole thing is invisible underground. therefore his analysis is always pertinent.
supertard big muzzie beard has a new book out
The Palestinian Delusion: The Catastrophic History of the . he revealed in that book details of interaction between the big bosoms of the beautiful big boosom nurses and the big muzzie beard. but if push comes to show, he relaize the muzzie imams are all making hyperbolic arguments, punctuated with
forceful assertions (all devoid of anything sientific). so the supertard realizes he too can counter argue but he can better them by listing kill status by muzzies and he has a lot of non muzzies victims to speak for.
the muzzie imams can make their argument effective and as a foundation for implementing reality (as in the various muzzie “republics”). but for this to happen, confiscation of lukes is required and laws changed, with a generous load of seemingly random killing by muzzies assasins.
so when you spouting off about “reality” while pounding on the keyboards constantly, you’re a vulnerable to “attack” by BIG GREEN GOAT. Big goat is sueprtard and he smells weakness like a vulture circling carcasses.
I’m not saying supertards are niche players, far from it. I’ve encountered supertards many times and they’re not from this world. I’m just a tard and I’m amazed how people are levels above me.
so take my offer of being considered supertards and shut it. it will be easier on you
Robert Inget on Fri, 11th Oct 2019 11:43 am
KEY POINTS;
A federal appeals court in Washington, D.C., upheld a subpoena for President Donald Trump’s financial records from the Democrat-controlled House Committee on Oversight and Reform.
The split ruling rejected Trump’s bid to block the committee from getting eight years’ worth of his records from the accounting firm Mazars USA.
Trump also is fighting a subpoena for his corporate and personal income tax returns, which Manhattan District Attorney Cyrus Vance Jr. wants for a probe of hush money payments paid porn star Stormy Daniels and Playboy model Karen McDougal.
(Once courts order release of Trump’s tax returns,
he will be forced to resign)
Today’s release of financial records would be enough to sink any previous President, but not this bully. Records from banks will show his true worth and reasons he follows Putin’s instructions.
Trump’s Tax Returns will be his final exit.
Things are moving much quicker than ever in living memory. Halloween ?
Robert Inget on Fri, 11th Oct 2019 12:31 pm
US Sending More Troops to Saudi Arabia:
(Gotta protect ‘our’ oil)
WASHINGTON — The United States is planning to send a large number of additional forces to Saudi Arabia following the Sept. 14 attack on its oil facilities, which Washington and Riyadh have blamed on Iran, sources familiar with the matter told Reuters on Friday.
So far unconfirmed
US troops stationed in Saudi Arabia are there to protect the Royal Family from the Saudi people.
NOT the oil itself.
supremacist muzzies jerk on Fri, 11th Oct 2019 12:48 pm
Robert Inget on Fri, 11th Oct 2019 11:43 am
robert the tard, why do you hate big grab so much? he didn’t do any large killing like supertard Cloggie did. all he did was dance his own unique dance because like BIG GREEN GOAT, he smelled vulnerability in the elite’s out of tune sideshow.
it’s not that not killing is good, i want big grab to nuke muzzies but the firing of the colonel forclosed that possiblity
Duncan Idaho on Fri, 11th Oct 2019 1:01 pm
The ponzi needs at least 2% to keep going:
Q3 GDP Forecast: Just Under 2%
https://www.calculatedriskblog.com/2019/10/q3-gdp-forecast-just-undex-2.html
3 quarters of this, and the game goes into crash mode.
We shall see– the Fat Boy is going to do everything to prevent this from happening.
supremacist muzzies jerk on Fri, 11th Oct 2019 1:08 pm
this is my master treatise. i don’t waste time on this forum. it’s lame. I focus on my goats. thank you SMJ for unwavering support. he is welcome to touch the learjet anytime (not a ride in it)
muzzies beetles are in custody of us military, muzzie anti rape machine, muzzie ampuation machine, and muzzie hamster machine are ready for them.
and then story out of china (the model for eveyrone to follow, but deliberately obscured the reason why – which is detention of muzzies readiying them for muzzie anti rape machine, muzzie ampuation machine, and muzzie hamster machine). the whole thing is about chinese vessels dumping yuuuuge amount of garbage in the atlantic.
muzzie in germany ‘allah’ and ramed cars hurting 12 people, on an on evrery single day. cops and civilians love muzzie 1000x.
muzzie scammed elderly in virginia $500,000. cops love muzzie 100x
muzzie bribe went with isis to make babies and now want to go back. what the world going to. this is ok but supertard big muzzie beard SAWS swt pbuh is banned from UK and harrassed by AA.
supertard big muzzie beard SAW SAWS pbuh swt reported muzzies in ger comprise of 40% of jizya payment to the tune of 4 billion euros per month. with that money they could go REAL GREEN or FAKE GREEN, it doesn’t matter that would’d been prosperious without the rapey rapey and stabby muzzies. The scale of jizya is incredible. it’s all out in the open if you just listen to the UK muzzie andy choudary for explanations
muzzie sabotage airliner and got loved 1000x in the form of reporting of “union dispute”. supertard big muzzie beard SAWS SAW pbuh swtreported it’s actually jihad.
Then in astralia muzzie with big grin and smug looking face with a hat and meat grinder practically begged to be amputated and put on muzzie hamster wheel. cops love him 100000x more and are puzzled why he did this. i’m scratching my head too which has thinning hair
Muzzie in NZ allah acbar and went after cop with axe. Cops loved muzzie 10000x love conquer all. No tweet AOC SAWS SAW pbuh swt , not siri Lanka, not when muzzie shot 6 cops on philadelphia. 25 billion tweet on Christchurch though
then there we deceptions of deep green, real green, deep deep green, fake fake green, and all the permutations of green. when AOC SAWS pbuh swt – (ZOMG i’m amazed at the technology in a sink food grinder) failed, the greta SAWS pbuh swt deception kicked in. I belived everything even the fantastic flying goat story.
The mini AOC Greta DUM DUM SAW is just a deception
for many years, centuries, million, quadrillion of years since (((supremetard))) SAWS pbuh swt created heaven and earth and before supertards SAWS pbuh swt big muzzie beard and glenn roberts put up web sites, i warned tards and supertards about muzzies.
i made no progress sort of like banging head against concrete, concrete wins everytime
but then i “reverted” to a supremacist muzzie jerk and I’m the best of humanity allah has created. i wear a muzzie dress and i pee sitting down holding up the bathroom line. this made supertard SAWS pbuh swt have bladder infection but the love for muzzies only intensified.
and allah advise me on a stroke of genius. i made juanp, makati1, and cloggie supertards. this took care of the abundance of bs immediately. the supertards got together for a party to celebrate new members, supertard davy was there. all in all everyone was happy and that’s good.
and now i have superpower, big goat SAW SAWS pbuh swt is feeling intense heat. all stops are pulled it seems – even Robert Inget the controlled libtard opposition is deployed to censor me. but uppertard SAWS SAW pbuh swt is not going to destroy free speech for someones love of muzzie. supertard SIS SAW SAWS pbuh swt dropped the appeal and that’s final. it’s now as good as case law. supertard SIS SAWS pbuh is back being occupied with his bunker and learjet and auto keltecs and he said absolutely do not bother him. so it’s set in stone that uppertard SAWS SAW swt pbuh is not going to modify this forum
Robert Inget on Fri, 11th Oct 2019 1:23 pm
Did anything actually happen?
Paul Adams, BBC Diplomatic Correspondent
This story is as clear as mud. It seemed to change. Two different ships have been named – the Sinopa and the Sabiti. We had reports of missiles striking the tanker and then an accusation briefly levelled against Saudi Arabia for committing what was described as an “act of terrorism”. That claim seems to have been dropped quite quickly.
And crucially there is no independent evidence at all that the vessel was struck. Pictures were released later in the morning showing nothing untoward. And most crucially both tankers are currently steaming at full speed in their different directions so there is no evidence that either vessel has been impaired in any way.
Publicly available ship tracking records show both ships are currently in the Red Sea. The Sinopa turned its transmitter on earlier this week for the first time in more than 50 days. The Sabiti, meanwhile, turned its tracker on early Friday after nearly 60 days of no transmissions.
Under international regulations, all vessels above a certain tonnage must be fitted with the trackers, known as automatic identification systems (AIS). But ships are not required to have their AIS turned on all the time.
A source at maritime analytics firm Windward told the BBC it was common for Iranian tankers to turn off AIS to avoid detection – often to evade international sanctions or harassment from Saudi Arabia.
Robert Inget on Fri, 11th Oct 2019 1:54 pm
OK, November imports will be limited to 6M B p/d.
(normally 6.5 to 7.5)
EXPORTS will run 5 M B p/d. Bullish for shareholders, traders bearish for our economy.
$55.70 today’s close for oil. expect WTI to match
Brent ($60.) next week and up up up from there.
High prices are one way to force consumers to use less gasoline.
Expect auto repos to tip off the next depression.
Profitable SUV, RV, and pick-up sales will plummet. Home prices may continue to go higher
until (God forbid) we lose the super currency AKA USD. Transition to renewables gonna be hard.
The US may default on foreign debt. They don’t call USD world default currency for no reason.