$Micron Technology(MU)$ Dig, b-To The Moon - Tiger Brokers Online Investing Community - To The Moon

$Micron Technology(MU)$ Dig, baby, dig.

Abu Dhabi National Oil Company mentioned that the last oil cargo that passed through the Strait of Hormuz before the war is now about to reach its destination, which is actually in response to spot demand. A 40-day gap has emerged in global energy flows.

This gap has made the refining industry willing to pay a premium to snap up spot. The spot price of North Sea crude oil is $126 per barrel, more than $30 higher than the June Brent futures price. Oil traders' bids are even $22 higher than the Brent spot oil price delivered in late April and early May. The spot price of May shipments in Nigeria is at a $25 premium to the benchmark price.

Some Asian refineries said they no longer focus on price and are trying to obtain oil supplies from around the world. Japanese companies took the lead in buying oil from the United States and switched to smaller tankers to pass through the Panama Canal and arrive in Japan faster. Mainland Chinese companies' purchases from Canada reached a record high in April; India shipped nearly 600 barrels of oil from Venezuela in the first week of April, doubling from the same period in March. The spot oil price of West Texas MEH in the United States is also nearly $4 per barrel premium to the benchmark price.

The expansion of spot premiums not only increases the financial pressure on small refineries but also raises the difficulty for operators using derivatives to hedge risks. As a result, some refineries have begun to withdraw from the market and reduce oil production. U.S. diesel and jet fuel prices are approaching record highs, and gasoline inventories have shrunk to their lowest level in nearly 16 years.

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A 40-day gap has emerged in global energy flows.</p>\n<p>This gap has made the refining industry willing to pay a premium to snap up spot. The spot price of North Sea crude oil is $126 per barrel, more than $30 higher than the June Brent futures price. Oil traders' bids are even $22 higher than the Brent spot oil price delivered in late April and early May. The spot price of May shipments in Nigeria is at a $25 premium to the benchmark price.</p>\n<p>Some Asian refineries said they no longer focus on price and are trying to obtain oil supplies from around the world. Japanese companies took the lead in buying oil from the United States and switched to smaller tankers to pass through the Panama Canal and arrive in Japan faster. Mainland Chinese companies' purchases from Canada reached a record high in April; India shipped nearly 600 barrels of oil from Venezuela in the first week of April, doubling from the same period in March. The spot oil price of West Texas MEH in the United States is also nearly $4 per barrel premium to the benchmark price.</p>\n<p>The expansion of spot premiums not only increases the financial pressure on small refineries but also raises the difficulty for operators using derivatives to hedge risks. As a result, some refineries have begun to withdraw from the market and reduce oil production. U.S. diesel and jet fuel prices are approaching record highs, and gasoline inventories have shrunk to their lowest level in nearly 16 years.</p></body></html>","htmlText":"<html><head></head><body><p><a href=\"https://ttm.financial/S/MU\">$Micron Technology(MU)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp;Dig, baby, dig.</p>\n<p>Abu Dhabi National Oil Company mentioned that the last oil cargo that passed through the Strait of Hormuz before the war is now about to reach its destination, which is actually in response to spot demand. A 40-day gap has emerged in global energy flows.</p>\n<p>This gap has made the refining industry willing to pay a premium to snap up spot. The spot price of North Sea crude oil is $126 per barrel, more than $30 higher than the June Brent futures price. Oil traders' bids are even $22 higher than the Brent spot oil price delivered in late April and early May. The spot price of May shipments in Nigeria is at a $25 premium to the benchmark price.</p>\n<p>Some Asian refineries said they no longer focus on price and are trying to obtain oil supplies from around the world. Japanese companies took the lead in buying oil from the United States and switched to smaller tankers to pass through the Panama Canal and arrive in Japan faster. Mainland Chinese companies' purchases from Canada reached a record high in April; India shipped nearly 600 barrels of oil from Venezuela in the first week of April, doubling from the same period in March. The spot oil price of West Texas MEH in the United States is also nearly $4 per barrel premium to the benchmark price.</p>\n<p>The expansion of spot premiums not only increases the financial pressure on small refineries but also raises the difficulty for operators using derivatives to hedge risks. As a result, some refineries have begun to withdraw from the market and reduce oil production. U.S. diesel and jet fuel prices are approaching record highs, and gasoline inventories have shrunk to their lowest level in nearly 16 years.</p></body></html>","text":"$Micron Technology(MU)$ Dig, baby, dig. Abu Dhabi National Oil Company mentioned that the last oil cargo that passed through the Strait of Hormuz before the war is now about to reach its destination, which is actually in response to spot demand. A 40-day gap has emerged in global energy flows. This gap has made the refining industry willing to pay a premium to snap up spot. 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