Julian Lee
Oil Strategist at Bloomberg News
Oil Strategist at Bloomberg News. Any views expressed are my own. [email protected]
Articles
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1 week ago |
bloomberg.com | Alex Longley |Grant Smith |Julian Lee
Oil analysts have raced to slash their forecasts for demand and prices in recent weeks amid the tariff turmoil, highlighting the threat that President Donald Trump’s trade war poses to the global economy. Banks, consultants and agencies have so far cut expectations for consumption this year by 320,000 barrels a day, according to the average of 12 estimates compiled by Bloomberg.
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1 week ago |
bloomberg.com | Julian Lee
Lower flows combine with $9 price drop to hit export earnings. Russia’s oil earnings sank to their lowest since mid-2023, with exports sliding for a third week and prices plunging amid a US-China trade war. Crude flows from all Russian ports in the four weeks to April 13 fell to 3.13 million barrels a day, their lowest since February and about 320,000 barrels a day below their recent peak.
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1 week ago |
bloomberg.com | Julian Lee |Lucia Kassai
(Bloomberg) -- A slump in oil prices is allowing Russia’s crude to be carried on tankers owned and insured by western companies, helping tighten the market for those ships around the Atlantic basin. Oil prices have tumbled since President Donald Trump imposed sweeping tariffs on US trade partners earlier this month. That has driven Russia’s key Urals grade well below the $60-a-barrel price cap Western powers imposed on it in response to the 2022 invasion of Ukraine.
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2 weeks ago |
bloomberg.com | Julian Lee
Russia’s oil exports slid for a second week, with lower flows of its key Pacific grade dragging down overall exports. Crude flows from all Russian ports in the four weeks to April 6 fell to 3.23 million barrels a day, their lowest in a month and about 220,000 barrels a day below their recent peak. The second straight decline came despite another small uptick in weekly shipments.
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3 weeks ago |
bloomberg.com | Julian Lee
Welcome to Energy Daily, our guide to the commodities markets powering the global economy. Today, oil strategist Julian Lee looks at the potential impact of US tariffs on the crude market. US President Donald Trump’s reciprocal trade tariffs may have spared oil, but they still won’t avert a price rout.
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