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YGRN - Saudi's Full-On Assault On Russia In April Will Force Russian Oil Production Shut-In
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
Welcome to the declaration of war edition of Oil Markets Daily!
Saudis are going to go all-out against Russia in April. The primary battlefield will be in Europe where Saudi has sent a record number of tankers to Egypt. Because of the geographical limitations for Saudi to ship crude to Europe, it is easier to unload crude at the south end of the Suez Canal and get re-exported out of Sidi Kerir. Saudis did this last time in June 2018 when President Trump intervened to tell the Saudis to increase oil production.