Oil market bearish for crude, bullish for products, says TotalEnergies CEO

🇳🇴 Hellenic Shipping News (NO) —

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TotalEnergies CEO Patrick Pouyanne stated that the global oil market trends bearish for crude oil but bullish for refined petroleum products. Crude shipments continue through the Strait of Hormuz, but higher shipping costs have disrupted flows of refined products in this critical waterway.

The global oil market shows different directions for crude oil and refined products, TotalEnergies SE Chief Executive Officer Patrick Pouyanne said today at the ONS conference in Stavanger, Norway. Crude shipments continue to move through the Strait of Hormuz without issues, but higher shipping costs have stopped all refined product flows through the waterway, Pouyanne ...

World Politics Markets Commodities Energy Shipping TotalEnergies oil market crude oil refined products Strait of Hormuz shipping costs

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