Energy Prices

[Ed P]

A tiny bit of predictable good/bad news. The good news is that assuming no Middle East production cuts, ebergy prices should steadily fall over the next three months. The bad news is that this is because China is now sourcing the majority of its oil, and possibly gas via pipelines to Russia.

https://www.theguardian.com/business/2022/jun/20/russia-becomes-chinas-top-oil-supplier-amid-ukraine-war-sanctions

Gas prices may take longer to ease, as China will have term off-take contracts, and the logistics of displacing Russian pipeline gas to Eastern Europe will take years to resolve. However it should bring down LNG transportation costs a bit.

[keith with the teef]

I’ve been watching CNN for the past couple of weeks and yeah they report that Putin is selling as much oil and gas to the Chinese as he can and @ discount prices?

@ discount prices? I did not think that was allowed, opec and all that.

I tell you, UK news need to get off bojos, case and give us the news not a bunch us pseudo rollocks that bojo’s a count.

Them CNN female news reader’s, Urgh barbies on steroids.

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