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<blockquote data-quote="bacha29" data-source="post: 5471575" data-attributes="member: 58386"><p>Instead of reciting sensationalized headlines to one another why not simply go with what is known.</p><p></p><p>DOE has put out bids for replacement oil for the SPR at $72. That will in turn create a floor under oil for the the time being. </p><p></p><p>The EU has put a $60 price cap on all Russian oil but Putin says he won't sell it for that.</p><p></p><p>With the pipelines shut off the only way out of Russian is by tanker. However to get tanker oil out of major Russian loading depot it has to go through the Turkish Straits. </p><p></p><p>To get ok to go through the Turkish Straits Turkey requires all tankers to be insured for things like spills and other unpleasant possibilities. </p><p></p><p>Now here's where it gets interesting. Chinese and Russian flagged tankers are in such bad shape that nobody is willing to insure them. The only ones that can get insured are Western flagged tankers due to the much higher safety and sea worthiness standards.</p><p></p><p>Therefore if Vlad wants to sell his oil and the only way out is in Western flagged tankers then he has to accept the 60 buck price. </p><p> </p><p> Oil is indeed a global commodity that is heavily impacted by global politics and other forces that heavily impacts it.</p></blockquote><p></p>
[QUOTE="bacha29, post: 5471575, member: 58386"] Instead of reciting sensationalized headlines to one another why not simply go with what is known. DOE has put out bids for replacement oil for the SPR at $72. That will in turn create a floor under oil for the the time being. The EU has put a $60 price cap on all Russian oil but Putin says he won't sell it for that. With the pipelines shut off the only way out of Russian is by tanker. However to get tanker oil out of major Russian loading depot it has to go through the Turkish Straits. To get ok to go through the Turkish Straits Turkey requires all tankers to be insured for things like spills and other unpleasant possibilities. Now here's where it gets interesting. Chinese and Russian flagged tankers are in such bad shape that nobody is willing to insure them. The only ones that can get insured are Western flagged tankers due to the much higher safety and sea worthiness standards. Therefore if Vlad wants to sell his oil and the only way out is in Western flagged tankers then he has to accept the 60 buck price. Oil is indeed a global commodity that is heavily impacted by global politics and other forces that heavily impacts it. [/QUOTE]
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