Market Review, Around Africa. Highlights.

  • Oil on tankers reached 120 million barrels in June, biggest increase in Iran Singapore,North Sea despite OPEC’s cuts. West African and Libyan crude making significant changes in oil prices.Floating storages making prices low.


  • Libya pumps most Oil since 2013 on restart. Output reached 900000 barrels a day, Country targetting1 million barrels a day by end of July.
  • South African Airways in talks with Lenders as deadline Looms. SAA owes 692 millionby end of June, bank want the loans repaid immedietly. Acting CEO is confidentthe airline can remain operational. 


  • Rand falls after Graft Ombudsman suggests changes to central bank mandate. Public Protector recommends focus on economic transformations. Investor concerns about Central Bank Independence.
  • Ethiopian Air said 3 billion deal with Airbus A350, Order set to be announced at next week Paris Air Show.


  • Advise recover all Rand investments like stocks ,bonds ,currency trading quickly, Rand will collapse Gradually. Crude Oil from Ng , Angola , Libya , Congo are highlighted. Prices expected to be lower as floating storage is increasing.


  •          We look forward to see more developments soon. I will write back again.


      πŸ’πŸ’πŸ’





4 Comments Add yours

  1. sk8sandhu says:

    Good Afternoon.

    Dear Mercury,
    Just read your article on Oil and Gas, fact is there no transparency in this field.
    To gain one buyer they just keep fighting among each other . Fact there are too ignorant and bring destruction within themselves and their alliance without even keeping in mind buyer’s are having different choices now.

    Presently you cannot hold any buyer for long term agreement, breaching for contact are done in this field frequently due to price variation it is same as preparing the onset target while having offset mind.

    Focus on unity and cooperate.
    Cheers

    Liked by 2 people

    1. MercuryTwin says:

      True,

      What we do is observe and analyse to make sure where do we stand. Survival is a point of actions for now.

      Your comments are appreciated .

      Cheers.

      Liked by 1 person

  2. Reema says:

    Hi mercury,

    Accurate information of oil market.
    Fluctuation of prices , OPEC increasing and decreasing the supply quota really at times favor one and another.
    Tragic to see price fall dramatically but certain supply chain don’t release the oil even on point discount.

    Oil strategy varying from broker to importers.
    A key player of oil round the sales of all countries.
    Keeping an eye πŸ€”

    Thank you for sharing
    Reema

    Liked by 2 people

    1. MercuryTwin says:

      Its always a big game and. We only watch them, lets see where this will go and how we adjust to our handling too.

      Its full of surprises and we keep learning too.

      Cheers

      Liked by 1 person

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