New highs for Brent oil price and Wressle....££££££15 Mar 2022 07:44
There is much v'OIL'atility in the oil markets at the moment.
Physical seaborne storage drained by 11% last week. That is tankers that have been stationery for at least 7 days.
There is no deal with Iran
Venezuela no deal
Ukraine/Russia ongoing
OPEC Sticking to 400 for now
Russian sea imports facing difficulties
China has a new covid variant spooking the markets. After the omicron an delta variant we saw new highs with oil price
SPR releases only increased oil price
With so much playing out here and instability it is clear to me that the world is walking in to an energy crisis and the next Brent price 'high' coming could be quite frightening.
For Wressle, we can only wait to be rewarded even further as my bullish thesis plays out.
Talking of which, after yesterday's excitement, I am looking forward to update photos an videos from the Wressle site with the new flare stack. Keep eye on the official Union Jack Oil twitter page today.