Gulf Oil Is Available Again, But Asian Refiners Balk At Soaring Tanker Rates

Governor Powell By Philip Marey, senior US strategist at Rabobank Summary As widely expected, the FOMC remained on hold. Governor Miran dissented again because he wanted a rate cut. However, there were also three dissenters (Hammack, Kashkari and Logan) who wanted to remove the bias toward cutting from the statement. On balance, Powell said that the center of the Committee was moving toward a more neutral place in thinking about cuts versus hikes. Powell announced that this was his last press conference as Chair, but he would stay on as a Governor until he thinks...

'Sporadic Clashes' Ongoing In Strait Of Hormuz After US Attacks, Disables Two Iran Vessels Trying To Breach Blockade Summary Sporadic clashes between Iranian Armed Forces and US vessels in the Strait of Hormuz, few details given. Two more empty Iranian-flagged tankers come under US aerial attack for attempting to breach blockade. Iran says US violated ceasefire after last night's US action, which resulted in Iranian military deaths & injures. However, Tehran still reviewing US peace proposal. Tasnim news agency: Iran has seized an oil tanker, accusing it of "attempting to disrupt oil exports and the interests...

Why Bernie Sanders Is Wrong About Gas Prices Authored by Robert Rapier via OilPrice.com, Gasoline prices can diverge sharply from crude oil prices due to refining and logistical constraints. Tight refinery capacity and geopolitical disruptions have created bottlenecks throughout the fuel supply chain. Policies that discourage energy infrastructure investment could worsen future fuel price volatility. When lawmakers propose solutions to complex economic problems, the first requirement should be a clear understanding of how those problems actually work. A recent Facebook post by Bernie Sanders comparing today’s oil and gasoline prices to those in 2011 suggests...