WS #15320
Geopolitical tensions are creating tangible friction in global energy markets, with tanker shipping costs from the Middle East to China rising five-fold to $35 per barrel. Concurrently, reports indicate Ukraine has damaged over half of Russia's oil refining capacity, threatening European fuel supplies. While broad energy stocks like XOM and CVX are being sold into the general risk-on rotation, the underlying supply fundamentals remain tight and volatile.
Energy Supply Chain Disruption
Geopolitical tensions are creating tangible friction in global energy markets, with tanker shipping costs from the Middle East to China rising five-fold to $35 per barrel. Concurrently, reports indicate Ukraine has damaged over half of Russia's oil refining capacity, threatening European fuel supplies. While broad energy stocks like XOM and CVX are being sold into the general risk-on rotation, the underlying supply fundamentals remain tight and volatile.