Bloomberg) -- Bidding competition continued in Platts window, with all grades rising to records. Trafigura, Total, Glencore, Mercuria, Gunvor bid. No offers placed. PLATTS: WTI Midland, CIF: Trafigura bid at Dated +$16.60 for May 1-10 Total bid the same period at +$17.85

Turkey has ⁠raised retail electricity prices for households by 25%(!) ⁠due to higher production and distribution costs, ⁠and has also increased natural gas prices for households by the ‌same amount on average, state energy company BOTAS says. (AlJazeera)

Here's the link: wsj.com/livecoverage/i…

On April 4th, the Shuiqiao class Landing Platform Utility (LPU) barges are conducting an exercise at Hepu Dasha Beach at Nantian Island, Ningbo, Zhejiang Province. wsj.com/world/china/ch…

Before the conflict: Saudi exported ~7.2 million b/d of crude at ~$67/bbl Annualized = $176 billion a year After the conflict: Saudi exporting ~4.8 million b/d of crude at ~$130/bbl Annualized = $227 billion a year

What is made out of a barrel of oil 🛢

Saudi Arabia has increased its official selling price (OSP) to a record high. The state-owned Saudi oil giant told refineries in Asian it would charge a premium of $19.5 a barrel over the regional benchmark for sales of its flagship Arab Light. bloomberg.com/news/articles/…

singapore shipping fuel market going off the chart—this is shipping fuel shortage live. at that price, shippers will defer orders, park their ships and either wait till the war is over or go out of business.

CNN reports the oil crisis is becoming “an everything crisis” with petrochemical shortages spreading to consumer goods (plastics, rubber, polyester). Asia, which accounts for more than 50% of global manufacturing, is hardest hit. J.P. Morgan warns supply constraints will worsen

Dedollarization continues apace: China's alternative to SWIFT, the US-dominated payment messaging system, is CIPS. CIPS is now processing more than 1 trillion yuan & 40,000+ transactions per day. 5000+ financial institutions across 190 countries & regions are connected to CIPS.

Former Treasury Secretary Hank Paulson called on US authorities to prepare a back-up plan to avert a potential collapse in demand for Treasuries. Tune into Wall Street Week Fridays at 6pm ET bloom.bg/3EMZYZX

#BREAKING Turkish, Somali media reporting State Petroleum Corp. (TPAO) with major stakes in Somalia offshore oil and gas project will establish oil refinery in Mogadishu to refine Somali crude to service markets in East Africa and beyond. The Iran War has exposed

La colline de Miharashi recouverte de fleurs bleues Némophila au Hitachi Seaside Park 🪻 Situé dans la préfecture d’Ibaraki à seulement 1h30 en train de Tokyo, ce parc de 215 hectares est l’un des plus grands espaces floraux du Japon #Japon

The oil market will lose at least 1bn barrels of crude and refined products due to the war in the Middle East, even if the conflict ends tomorrow, the head of the world’s biggest independent oil trader has warned. ft.trib.al/roK3ruX

Lufthansa cuts 20,000 flights to save fuel as prices soar ft.trib.al/HXxGMgs

Control of Sudan is now divided between its army, which holds Khartoum and the east, and the paramilitary Rapid Support Forces in the west.  The risks of long-term partition and spillover are continuing to grow: crisisgroup.org/brf/africa/sud…

🇸🇦 Springtime in Al-Muhmal Desert, Saudi Arabia

🌎 The warming El Nino weather phenomenon, which pushed global temperatures to record highs the last time around, is expected back in the middle of this year, the UN says. ➡️ u.afp.com/Sawu

You know Asia is truly short of crude oil when Japanese television covers the arrival of a single oil tanker from America as a major news story

This is actually pretty big and should be a massive boost towards establishing the RMB as a major reserve currency. In simple terms, when you allow foreign investors to trade Chinese government bond futures, you're letting them buy insurance on their Chinese bond holdings