Iraqi Oil Sailing in Circles

Bloomberg

Brad Hoppmann | June 13, 2014

What does a ship bound for nowhere have to do with the oily, violent mess in Iraq? This particular ship is a key player — and it’s currently idling off the coast of Morocco. Today I’ll tell you why.

The ship’s name is United Leadership. Ironically, “united leadership” is exactly what Iraq is missing this week.

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The map above is more legible than the one I ran yesterday. Bloomberg helpfully color-coded the territory controlled by Sunni Arab, Shia Arab ad Sunni Kurd forces, along with oil fields and pipelines.

Iraq’s messy political situation is not improving. The competing groups have their own internal tensions. We may well see Iraq break up into three or more rival governments in the next few weeks.

If

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As Iraq Burns, Kurds Try (and Fail) to Sell More Crude

 

June 13, 2014

Photograph by Emad Matti/AP Photo

Kurdish security forces deploy outside of the oil-rich city of Kirkuk, 180 miles north of Baghdad on June 12

Iraq is coming apart before our eyes, undoing much of the economic progress that a couple of years of stability had afforded it. While it’s premature to call this a civil war, there’s little doubt that’s where things are headed, especially after a powerful Shiite cleric urged his followers to take up arms against Sunni militants during Friday prayers.

So far the action has been in the north, home to some but not much of Iraq’s productive oil reserves. The vast majority of Iraq’s more than 3 million barrels of daily oil production comes from the southern parts of

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The Trade, Shipping and Finance Wizard

 

http://jacquessimon506.wordpress.com/2013/10/12/yield-vs-profitacre-why-corn-farmers-are-still-winning-in-the-bear-run/

Navigate the commodities markets with Freight and Spreads

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Doing a Flush, Laytime and Demurrage under the Beepeevoy 4, eurogas/cbob t/a arb talk

Physical, shipping & contractual aspects of trading are what is driving the show in the energy marine trade. In this article, I will first give explanations about limitations occurring at refined products terminals. Secondly, I will introduce the BPVOY 4 and … Continue reading

 
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Morgan Stanley Turns Aussie Bull to Predict Parity

 

Photographer: Sergio Dionisio/Bloomberg

Bulk carriers are loaded with iron ore at the ship loading facility at Fortescue Metals Group Ltd.'s Herb Elliott Port in Port Hedland in Western Australia. Australia’s largest export, iron ore, fell below $100 per metric ton last month for the first time since 2012. Close

Bulk carriers are loaded with iron ore at the ship loading facility at Fortescue Metals... Read More

Photographer: Sergio Dionisio/Bloomberg

Bulk carriers are loaded with iron ore at the ship loading facility at Fortescue Metals Group Ltd.'s Herb Elliott Port in Port Hedland in Western Australia. Australia’s largest export, iron ore, fell below $100 per metric ton last month for the first time since 2012.

 

Morgan

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