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2026-04-07 19:05:58
[Global Rush to Buy Russian Energy, Kremlin: Market Demand "Explodes," Europe Cuts Off Cheap Supply] ⑴ The Kremlin stated on Tuesday that amid a severe global energy crisis impacting the foundations of the oil and gas market, there is a massive demand for Russian energy, and Russia is negotiating in a manner most in its own interest. ⑵ Institutional data shows that last month, the premium of Russian Urals crude over Brent crude reached $5 to $8 per barrel, contrary to the usual discount, reflecting that Asian countries such as Vietnam, Thailand, the Philippines, Indonesia, and Sri Lanka are queuing up to buy Russian oil. ⑶ From a psychological perspective, the market had previously generally bet that Russian oil would be forced to liquidate at a discount, but the current premium structure is forcing short covering.
