quote: ➡️ Two thoughts: 1️⃣ IMHO, this bill is as much about the power to slap 100% tariffs on a few key trading partners as it is about impairing Russian oil revenues. It will be interesting to see what the White House does with this power if the bill makes it through the House of Representatives and to Trump’s desk. 2️⃣ Be careful what you wish for - The global supply/demand “balance” is woefully imbalanced. The loss of Russian gasoline and diesel exports in recent months has greatly contributed to record crack spreads, and the loss of even more crude supply may be the catalyst to finally send crude much higher. The tank bottoms are coming… #oott | Sweeping Russia energy sanctions head toward US Senate passage #oott https://www.reuters.com/legal/government/sweeping-russia-energy-sanctions-head-toward-us-senate-passage-2026-08-07/

quote: ➡️ Two thoughts: 1️⃣ IMHO, this bill is as much about the power to slap 100% tariffs on a few key trading partners as it is about impairing Russian oil revenues. It will be interesting to see what the White House does with this power if the bill makes it through the House of Representatives and to Trump’s desk. 2️⃣ Be careful what you wish for - The global supply/demand “balance” is woefully imbalanced. The loss of Russian gasoline and diesel exports in recent months has greatly contributed to record crack spreads, and the loss of even more crude supply may be the catalyst to finally send crude much higher. The tank bottoms are coming… #oott | Sweeping Russia energy sanctions head toward US Senate passage #oott https://www.reuters.com/legal/government/sweeping-russia-energy-sanctions-head-toward-us-senate-passage-2026-08-07/

Source:https://x.com/staunovo/status/2085805133406044386