Sunseedman | Daily Reports on Vegoils

Aug 12, 2022 | Agricultural Markets

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Russian/ukrainian war:Today is 170th day and russian/ukranian tension/war is, unfortunately, still really so crucial/worrisome. Today and soon will be also so important to follow the developments ( hope and pray that this nuisance war will be over asap ) and reflections to our markets. Humanitarian food/vessel etc corridor for ukraine ???

Petrol: By yday, petrol was further bounced with technical correction, higher iea demand forecasts, renewed us gasoline demand, embargo on russia, global tightness and geopolitical risks ( ru/ukr war ) albeit iranian nuke deal effords, china/taiwan tension, higher weekly us crude stockpiles, resumed libyan/venezuelan output, underway chinese lockdowns and opec+ output hikes/us reserve releasings as well as global/us growth/demand/inflation/recession/interest rate hike concerns. Today, slight downs are likely as still around 99 $/barrel for brent ( oct22 delivery ).

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