🔗Karel Mercx (@KarelMercx)
The cost of shipping 2 million barrels of oil jumps another 14.3% today to $18.15 per barrel.
That move is already extreme.
I think it gets even more extreme from here.
Three reasons why: 🧵
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🔗Karel Mercx (@KarelMercx)
Moving 2 million barrels of oil from West Africa to China now costs $15.88 per barrel.
No wonder all my tanker stocks hit new 52-week highs last Friday.
I still think the biggest problems in the oil market are ahead of us, not behind us.
➖➖➖➖➖➖➖➖➖➖
⚡️Ellinne
The cost of shipping 2 million barrels of oil jumps another 14.3% today to $18.15 per barrel.
That move is already extreme.
I think it gets even more extreme from here.
Three reasons why: 🧵
➖➖➖➖➖➖➖➖➖➖➖
🔗Karel Mercx (@KarelMercx)
Moving 2 million barrels of oil from West Africa to China now costs $15.88 per barrel.
No wonder all my tanker stocks hit new 52-week highs last Friday.
I still think the biggest problems in the oil market are ahead of us, not behind us.
➖➖➖➖➖➖➖➖➖➖
⚡️Ellinne
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