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tangs

38,085 Posts.

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21/01/24

14:09

Post #: 71985866
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Originally posted by moorookamick: ↑

The Houthi-Touthi war on Red Sea shipping has increased
the price of oil and gas again so, IMO, its in Russia's interest
to support the Houthis to the extent that $1 given to the Houthi's
will likely yield $100 for Russia, Iran and other Metro-economies.

Despite the Western war sanctions on Russia, Russia is managing
to flog its oil and gas elsewhere albeit in lower volumes but at higher prices.

In summary, it gazumps OPEC's stranglehold on oil pricing, IMO.

Its also interesting as a side show to the Ukrainian US Proxy war
that the US is softening its economic sanctions on Venezuela .
Perhaps it has too many balls in the air at present or that it
fears China's and Russia's assistance to Venezuela will
over time reduce the impact US economic sanctions to virtually zero

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not much at all
Urals at $63.04 at present --- not much over cost of production when transport is factored in
clutching at straws !
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