Oil prices have reached a five-month high! Is the power of the 'strictest sanctions' against Russian oil really this significant?

① As the USA government implemented the broadest sanctions so far on Russia's Oil & Gas revenues last week, the rise in oil prices seems to be becoming unstoppable... ② Following a nearly 4% surge last Friday, Brent Crude Oil rose again on Monday by about 1.43%, pushing the settlement price of Brent to over $81, with intraday prices reaching a new high of $81.68 in over five months.

cls.cn15:58

WTI Crude Surges Above US$78, Targeting US$80 Resistance

Business Today15:20

USA sanctions against Russia have led to a tightening of transportation capacity, causing a surge in tanker freight rates.

Ship brokers and traders have stated that after the USA expanded sanctions on Russian oil trade, tanker freight rates have skyrocketed.

Zhitong Finance15:03

The USA's reliance on Saudi oil is coming to an end.

The Energy market will no longer be a constraint on the USA's foreign policy in the Middle East.

Golden10 Data14:30

The arrangement for Trump's inauguration ceremony has been announced: it is expected to cost 0.037 million dollars per minute.

① The inauguration activities of the president-elect Trump in the USA have been announced, including an official party, a MAGA rally, and a large fireworks display, with multiple events taking place at Trump's golf course outside Washington, D.C. ② Trump's inaugural committee has raised over $0.17 billion, expected to reach $0.2 billion, spending $0.037 million per minute, far exceeding the record of $8,600 per minute set during Obama's first inauguration.

cls.cn10:30

On the eve of Trump's inauguration, Biden 'ignited' oil prices.

The International Energy Agency had previously predicted that in 2024, there would be a surplus of nearly 1 million barrels per day in the Global oil supply, but the sanctions imposed by the Biden administration on Russian oil could nullify this surplus. The Biden administration had previously announced a significant expansion of the sanctions list for tankers transporting Russian oil, bringing the total to 270 vessels.

wallstreetcn09:59