20 March 2025: 16:30 GMT
Brent flat price spiked on US sanctions against the Shandong Shougang Luqing teapot for taking in Iranian crude – as well as another 8 tankers. Are they testing the waters, dipping their toes in to see how China reacts to additional sanctions and restrictive measures?
Does China care? Less every day. So, get excited about sanctions but they do not mean much. Whatever the game plan, Brent jumped to over $72 and the front spread recovered from its dip this week to surpass 50c again. The market remained worried about the impact of those sanctions, as flat price held strong near $72 to close at $71.83/bbl.
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