REACH's concession is in the Caspian Sea area of Kazakhstan. Unaffected by turmoil in the Persian Gulf. If Iran close the Persian Gulf or attack the oil fields, oil price will shoot through the roof as 22% of the world's supply will be cut off. But oil from other areas will not be affected and will be in high demand.
Q4 will be a good quarter. Now all airplanes need to avoid middle east area, need more fuels for travel. Tonight, when Trump wake up, he going to give a morning statements!!
Oil sank after Trump said Iran “appears to be standing down” and that the U.S. would impose sanctions instead of another military strike as feared by some.
U.S. West Texas Intermediate crude dropped 4.9% to $59.61, its first time below $60 a barrel since Dec. 16.
- Successful signing of North Kariman and Yessen Production Contracts, 3-year extension of Exploration Contract-482 and the Amendments with Work Programs for Kariman, Dolinnoe and Aksaz fields.
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can share what is the info from greentraders?