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Express News | Occidental Petroleum Corp : JP Morgan Raises Target Price to $59 From $58
Oil Prices Are on a Tear. It's a Short-Term Headache for Inflation
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.
WTI Crude Surges Above US$78, Targeting US$80 Resistance
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.
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.