No. of Recommendations: 2
By enough to matter? Per the article, the oil is apparently still being offered at off-market rates:
The trader offered a cargo at a discount of $8-$8.50 a barrel to ICE Brent on a delivered basis to one [potential buyer], one of the sources said.
That is a bit of a haircut off what they were getting previously, which was about $13-15 per barrel:
It adds up.
Plus we're going to get all the Ghost Ships off the waves (another was seized today) and that's the eventual rope around Putin's nuts.
...but not really enough to matter. $5-7 per barrel cost increase? That's well below a single billion dollars for the entire year for all of China's imports from Venezuela. A rounding error - chump change. Not exactly having their nuts in a rope.
Most ropes begin life as a single thread, as will this.
