The closure of the Russian oil pipeline and export terminal as well as the move to want payment in Roubles, are all likely tactics from Putin to cause more market chaos in an attempt to hit back over sanctions. While Russia likely needs the oil and gas revenues, sending oil higher is likely intended to see whether the West cracks, which seems unlikely. The Rouble payment is also meant to inconvenience the West but at the same time maybe support the Rouble as West Europe needs the gas and will need to buy Roubles to may payments.
US Refiners Profits Rise On Margin And Roubles
Mar 24, 2022 3:02:20 PM / by Cooley May posted in Chemicals, Oil, natural gas, gasoline, refinery, Russia, oil and gas, refining margins, refiners