Oil Vulnerability
August 14th 2008 17:15
An article in Port World tells us that the oil through Baku-Tbilisi-Ceyhan (BTC) pipeline that flows through Georgia has experienced some disruptions. First there was an explosion in Turkey that halted the one million barrel per day flow. Now,
There is only about a 1 1/2 million barrels of oil per day cushion between demand and supply. Losing one million barrels per day can have a big effect on price. Has it?
See Chart
Are we at or close to a bottom? I'll let you know if MarketClub gives a short cover signal.
Reuters reported that tankers are currently not going into (Georgian oil port of) Batumi while the other Georgian oil port of Supsa is operating only partially.
There is only about a 1 1/2 million barrels of oil per day cushion between demand and supply. Losing one million barrels per day can have a big effect on price. Has it?
See Chart
Are we at or close to a bottom? I'll let you know if MarketClub gives a short cover signal.
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