Monday will be a significant news day. – BRICS new monetary fund, the EU price cap on oil and the OPEC meeting. All of them are high energy price impact movers by themselves. But all three are wildly tough to predict the pricing. The short-term impact will be around the price cap and OPEC. BRICS is longer term.
Price Caps and sanctions don’t work. Insurance is the hidden reason the EU expects the cap to work. The London and western insurance markets on tankers can be used if the oil is moved under the price cap. Short-term reduction in possible Russian crude taken off the market.
The solution: Countries like India, and China, that are large enough to start a new insurance fund away from the mainstream markets. Oh, BRICS’s new monetary solutions may be coming to an insurance provider near you.
We would also like to thank our ENB Podcast sponsor. Enverus. You can find out more at their website: Enverus.com
A shout-out to our fellow travelers with Enverus.
Fellow Podcast Travlers: