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Stephen Stapczynski Profile picture
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Mar 5 • 6 tweets • 2 min read
Shell, one of the largest oil traders, bought a cargo of Russia’s flagship crude at a record discount 🛢

The decision may be seen as a symbolic act by the rest of the market. Governments so far haven’t banned Russian oil, but some traders are avoiding it

bloomberg.com/news/articles/…
Ukraine’s Minister of Foreign Affairs criticised Shell’s purchase 🇺🇦
Shell said they have to continue purchasing oil from Russia for certain customers as there is a lack of alternatives
Shell also said earlier in the week that it was exiting all of its investments in Russian energy projects
Shell be like
Shell says it will commit profits from Russian oil purchases to a fund that will help people in Ukraine

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More from @SStapczynski

Stephen Stapczynski Profile picture
Mar 7
European natural gas prices surge 38% (!!) to a new record 🚨

🇷🇺 The market fears Russian gas exports may be disrupted if US embargoes oil
🇷🇺 Russian gas account for about a third of Europe’s demand, and are currently not covered by current sanctions

bloomberg.com/news/articles/… Image
European natural gas futures are now above $82/mmbtu. That's 14-times higher than the 5-year average for this time of year

Any ban or cutoff of Russian gas flows to Europe could require “extreme” government measures to ration supplies: Engie's CEO

bloomberg.com/news/articles/…
European natural gas surge 60% (!!!!) to over 300 euros/MWh for the first time ever Image
Read 5 tweets
Stephen Stapczynski Profile picture
Mar 6
Brent oil surged, briefly touching $139 a barrel (!!), after the US said it was talking with allies on a Russian oil embargo, fanning supply fears🛢️

A formal embargo would squeeze Russian exports in a market that's already pretty tight

#OOTT

bloomberg.com/news/articles/… Image
US gasoline prices rising on the back of higher crude...

Oil isn't the only thing surging...

⚙️Palladium hit an all-time high on mounting concerns that exports from top producer Russia
🇷🇺 Russia accounts for 40% of all mined production of the metal that’s used in catalytic converters in gasoline vehicles

bloombergquint.com/business/palla… Image
Read 5 tweets
Stephen Stapczynski Profile picture
Mar 5
Elon Musk says more oil & gas production is needed now to help bring down sky-high prices 🛢

Russia’s attack on Ukraine has sent energy prices surging this week👇

🇺🇸 US crude oil futures at 14-year high #OOTT
🇪🇺 Europe natural gas at record
🚢 Asia LNG at a record
US oil futures posted its biggest weekly gain EVER as Russia’s attack on Ukraine has sparked fears of a major supply crunch 📈📈📈

Futures in New York rose by more than $24 this week, the highest weekly dollar increase on record

(Russia is a major exporter of oil & gas 🇷🇺) Image
The Biden administration is weighing a ban on US imports of Russian crude oil 🇺🇸 🙅‍♂️

(Yes, the US still imports Russian oil even a decade after the shale revolution turned America into an exporter. It makes up 3% of total US crude imports last year)

bloomberg.com/news/articles/…
Read 4 tweets
Stephen Stapczynski Profile picture
Mar 4
North Asia’s liquefied natural gas spot price surged to a record 🚨

🚢 Russian supply concerns intensified competition between Asia and Europe for available supply of the super-chilled fuel
📈 JKM LNG rose to nearly $60/mmbtu, doubling in the last week

bloomberg.com/news/articles/…
“Panic spread through the international gas markets over supply availability due to the Russia-Ukraine conflict,” according to S&P Global Commodity Insights

bloomberg.com/news/articles/…
Asian LNG prices were pulled higher by a historic rally in European rates

Dutch TTF futures nearly touched 200 euros/MWh, also a record high. They're trading around 190 euros today, roughly equal to $60/mmnyu

bloomberg.com/news/articles/…
Read 6 tweets
Stephen Stapczynski Profile picture
Mar 4
Why today’s attack on the Ukraine nuclear power plant is nothing like Chernobyl 🧵

News of Russia shelling Europe's largest atomic plant sent shudders around the world. But there are a myriad of reasons why it's unlikely to result in an atomic disaster

bloomberg.com/news/articles/…
While Ukrainain Foreign Minister Dmytro Kuleba warned of a disaster “10 times larger” than Chernobyl when a fire broke out at the Zaporizhzhia plant, analysts and specialists I spoke to throughout the morning said that was unlikely
📌 First off, what happened?

A fire had broken out at the Zaporizhzhia plant in southeastern Ukraine after Russian shelling overnight (the fire has since been contained)

The facility -- near the city of Enerhodar, about 500 km from Chernobyl -- has a total capacity of 5.7 GW
Read 19 tweets
Stephen Stapczynski Profile picture
Mar 4
Europe’s largest nuclear power plant suffered a fire as Russian troops began shelling early Friday, raising concerns over the facility's safety 🇺🇦☢️

The Zaporizhzhia plant in Ukraine has six Soviet-designed 950-MW reactors built between 1984 and 1995
If shelling had occurred, the reactors should switch off automatically, @energybants

(Good point to remember ☝️)

bloomberg.com/news/articles/…
UPDATE: Ukraine regulator tells IAEA there has been no change reported in radiation levels at the Zaporizhzhia Nuclear Power Plant site

Read 5 tweets

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