Saturday, January 29th, 2022 This is a primary time in seven years, Brent prices surged past $90 per barrel in the week, buoyed by a series of bullish factors. First, low inventories remain the amount one reason underlying investment banks’ $100 per barrel short-term forecasts. the very fact that US commercial stocks just fell for the third time during a row has not helped that. Second, with much of Europe captivated by the prolonged Russia-Ukraine standoff, speculation that Russian oil may well be embargoed from the market added another geopolitical premium to prices. Simultaneously, supply scarcity remains a worldwide worry as corroborated by steep backwardation – the Brent six-month market structure was almost at $7 per barrel on – with little indication that OPEC+ would be willing to churn out quite it's alleged to under the terms of its agreement. Things are looking very bullish for oil markets indeed. Saudi Aramco Hits Out at Energy Transition. Saudi Aramco (TADAWUL:2222) CEO Amin Nasser said the present transition towards a sustainable energy future isn't going smoothly, highlighting the necessity to speculate in oil and gas if the markets are to avoid this tightness seen immediately in Europe and parts of Asia. Russia Expects Iran Deal Breakthrough in Q2. per Russia’s envoy to the JCPOA talks on the revival of the Iranian nuclear deal, if the negotiations continue at their current pace an agreement would be reached by the tip of February, though it'd take another two months to possess it finalized. Trafigura to make Up a brand new Russian Base. Global trading house Trafigura plans to start out base oil exports from the Russian port of Vyborg, Nord Stream 2 Registers German Subsidiary, Awaits Decision. The operator of the Gazprom-led (MCX:GAZP) Nord Stream 2 pipeline has registered a subsidiary for the German section of the pipeline to satisfy the necessities of the country’s energy regulator BNetzA. Siemens Energy to hunt Full Integration of Wind Business. German energy conglomerate Siemens Energy (ETR:ENR) has reportedly stepped up efforts to hold out a full integration of its turbine business Siemens Gamesa (BME:SGRE), still unable to arranged the ownership structure of a spun-off entity that it doesn't control. Key US Shale Pipeline Jeopardized. The US Court of Appeals has nixed the federal permit issued towards the Mountain Valley Pipeline, a key conduit that will send Appalachian gas to Virginia and is quite 90% complete, arguing that government approvals failed to consider erosion impacts. Oman Launches First commodities exchange within the geographic area. Oman has formally launched the primary electricity commodity exchange within the Near East, with the stated aim of skyrocketing the efficiency of power procurement, a fragile way of claiming that Muscat would seek to avoid protests driven by high electricity prices. Canada’s government approved the deal seeing Chinese firm Zijin Mining Group (SS:601899) buy Toronto-listed lithium miner Neo Lithium (CVE:NLC) for $720 million, despite heavy objections from opposition parties arguing that China’s clout over critical minerals keeps on increasing. Thanks for reading and we’ll see you next week Yusuf Bhandarkar, fro The MMS www.multimediastudio.net
