Given that more than 3/4ths of the tankers transporting Russian crude oil this year have no known insurer, the G7 $60/barrel price cap on Russia's oil exports is now as good as dead in the water.

What ultimately forced Russia to export more crude (and thus preventing >$100 oil)

'Overall product supplied, a proxy for demand, averaged at 20.10 million barrels per day (bpd) at the end of March, compared with 19.7 million bpd during the same period last year'

Refiner Valero beats first-quarter profit estimates reuters.com/business/energ…

Interesting.

U.S. COMMERCIAL CRUDE oil inventories depleted by -6 million barrels over the seven days ending on April 19. It was the largest drawdown of inventories for 13 weeks and went against the usual seasonal trend. Stocks normally accumulate rather than deplete at this time of year. The

Following the Biden administration's recently announced plans to reimpose oil sanctions on Venezuela, Atlantic Council's Jason Marczak, Geoff Ramsey, Ellen R. Wald Ph.D.🛢, and David Goldwyn share their quick takes. 🇻🇪
atlanticcouncil.org/blogs/new-atla…

Energy markets have shown a muted response thus far to Iran’s attack on Israel.

The potential risks to fuel prices and global energy security are extremely high. Ellen R. Wald Ph.D.🛢, Brenda Shaffer & David Goldwyn share what to watch for. ⬇️ atlanticcouncil.org/blogs/new-atla…

Following the Biden administration's recently announced plans to reimpose oil sanctions on Venezuela, Atlantic Council's Jason Marczak, Geoff Ramsey, Ellen R. Wald Ph.D.🛢, and David Goldwyn share their quick takes. 🇻🇪
atlanticcouncil.org/blogs/new-atla…

“Where would you go to reinvent yourself, and blend in? Florida.” - Taylor Swift

Energy markets have shown a muted response thus far to Iran’s attack on Israel.

The potential risks to fuel prices and global energy security are extremely high. Ellen R. Wald Ph.D.🛢, Brenda Shaffer & David Goldwyn share what to watch for. ⬇️ atlanticcouncil.org/blogs/new-atla…

Israel and Iran trading missiles/drones threatening nothing with no supplies harmed or threatened is not the oil shocks 2.0 people seem to think it is.

By the markets open tomorrow morning oil prices will probably be back down or lower than they were when markets closed.

From the company who makes planes that crash unless flown by very skilled pilots and doors that fly off if the bolts aren’t checked…

The US announced plans yesterday to reimpose oil sanctions on Venezuela—though with opportunities for exemptions.

Jason Marczak, Geoff Ramsey, Ellen R. Wald Ph.D.🛢, and David Goldwyn share their insights. 👇
atlanticcouncil.org/blogs/new-atla…