Good News?
Hardly. By now we all know not to expect Sundance to be right about anything.
He’s presented really interesting thought on Russian diesel, they have so much , they ship at deepdiscounts to central Asia, what they do with it, I don’t kow, probably ship it to Iran. But several days ago, he talked about Ukraine’s attacks on Russian diesel, that U.S. asked him to desist. He cited a “4 day rule” in government policy msking. I can’t review exactly what the intel was that he said EU analysts had passed up the chain to political leaders, but he said it usually takes 4 days for a chain of communication to go from intel assessment to policy makers, in this case posited that it led EU leaders t shut up about Russia, at least in terms of diesel (don’t quote me). So EU must already be squeezed worse the US, and if we cut off exports, more pressure on them. I don’t know why he didn’t recap his argument from the other day, I guess because his focus is longer -term, to the way a collapse plays in to the hands of climate change strategy.
You are correct. The RBOB (gasoline) futures contracts agree with you as well.
Well, if Mark Bradman (aka Sundance) were to offer opinions on the proper temperature to store lettuce, I might believe him.