Mid-Week Review – July 6, 2022

Canadian Energy Marketers Association June 2022 Report

Learn relevant fuel trends at the national and local level for Canadian businesses From industry events to market data, find out what’s happening in Canadian energy markets in CEMA’s June 2022 report. Click here to read more from CEMA.

Nigeria’s Barkindo, OPEC leader and oil diplomat, dies at 63

Mohammad Barkindo, the outgoing secretary general of OPEC who played a key role in forming the wider OPEC+ group of oil producers that has helped the industry navigate global shocks, has died aged 63. Click Here to read more from Reuters.

Reducing Inflation Will Come at a Great Cost: Stagflation

For me, hearing supposed “experts” talk about what’s now happening in the markets and economy is like listening to nails scratch against a chalkboard because they are typically saying incorrect things in an erudite rather than commonsense way. Markets and economic movements are driven by much simpler and more commonsense linkages than most people articulate. Click Here to read more from Ray Dalio.

Iran is following Russia’s lead and selling oil at a discount

When we talk about the price of a barrel of oil, we’re talking about two benchmarks – one called Brent crude, mostly for oil from Europe and the Mideast – and West Texas Intermediate for oil from here in the U.S. But the oil market is made up of lots of buyers and sellers. And if producers want to sell their product at a discount – below whichever benchmark price applies – they can. That’s what Iran is doing to compete with Russia … selling oil to China. Click Here to read more from Marketplace.

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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