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2025-10-30 21:39:23
[Total CEO Warns: Sanctions Are Really Effective, Oil Premiums Are Just Beginning] ⑴ Total Energy CEO Patrick Pouyanez publicly stated on Wednesday that the oil market has severely underestimated the impact of the latest round of Western sanctions against Russia, and that actual oil flows have already been disrupted. ⑵ Pouyanez revealed that countries are urgently readjusting transportation routes, requiring more expensive crude oil and refined products to travel longer distances, leading to a rapid expansion of spot premiums. ⑶ He stated that he is more optimistic than a few days ago because "the real impact in the market is beginning to show," implying that crack spreads and freight rates still have room to rise. ⑷ Institutional monitoring shows that refined oil freight rates on the Suez-Baltic route jumped 18% in a week, and the Brent-to-Dubai EFS spread widened to $6.2, the widest in three months. ⑸ Options Chain data shows that open interest in Brent at $120 in December increased by 22% in a single day, with funds betting that the effects of sanctions will be concentrated in the heating season, and oil market volatility is expected to rise to another level.
