Hot Taco
Will Trump back down on Russian sanctions
In this report: Last week’s oil markets were defined by geopolitics, not fundamentals. Trump’s sanctions on Russia jolted crude higher, while traders weighed whether the move was a diplomatic feint or a genuine supply threat. OPEC are positioned to soak up market share. Venezuela heats up.
Articles
Trump Truth Social. “Treasury Sanctions Major Russian Oil Companies, Calls on Moscow to Immediately Agree to Ceasefire”.
Oil rises more than 4% on fresh US sanctions against Russia
Crude Tanker Rates Surge as Oil in Transit Hits Highest Level Since 2020
Top buyer Reliance planning to ‘recalibrate’ its crude sourcing
Norway oil output beats forecast in September, while gas lags
Merz Expects US Will Exempt Rosneft’s German Unit From Sanctions
US upstream oil and gas dealmaking slumps for third straight quarter amid low prices
Saudi Arabia May Be Producing Oil At Close To Maximum Real Capacity, Repeat Of 2008 Likely
Russia’s Shadow Fleet: A Masterclass in Sanctions Evasion
Venezuela-The worlds largest oil reserves
Russian oil production. Source: Trading Economics
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The game of empires continues to bring Russia .ie ‘The Heartland’ to heal as discussed in my report from August 3rd. Using the stick rather than the carrot approach after the summit Putin and Trump were to hold in Budapest was cancelled. This is good gamesmanship and negotiation tactics from Trump. This style would not be seen typically by a run-of-the-mill diplomat, for fear of appearing too unilateral. Like him or hate him, this is strong, decisive political craft borrowed from the commercial world. If you are wrestling a tiger, you use the whip, not the words.
