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...When we put prices out we found it difficult to sign these agreements,” he said, adding that the current price compared to a $200-$400 barrel of oil....
...Mainly sold to refineries in China, ESPO has consistently traded well above the $60-a-barrel price cap imposed by the G7 in December 2022....
...Gümüş added that when GTS accepts Russian origin fuels it ensures that the shipments have been sold below the G7 price cap, even though, as a Turkish company, it is not compelled to comply with the restrictions...
...Hedge fund Citadel expects ‘extremely tight’ global oil market Energy Source is written and edited by Jamie Smyth, Myles McCormick, Amanda Chu and Tom Wilson, with support from the FT’s global team of reporters...
...Price volatility eased in 2023, but commodity flows remain disrupted....
...Traders had largely expected the decision to extend the curbs, with crude oil prices rising last week ahead of the announcement....
...The surprise increase from 2022, when the fallout from the war in Ukraine pushed up prices and supercharged profits, was driven by a wave of new entrants into the sector — including tech-focused traders...
...“They will bring it back when it doesn’t send prices south,” she said....
...high levels during this winter, putting pressure on prices....
...I’m joined now by Tom Wilson who covers energy for the FT. Hi, Tom. Tom Wilson Hi, Marc....
...“The company is massively undervalued . . . the share price today is at an all-time high, but it could be significantly higher from where it is today.”...
...Saudi Aramco boosted its dividend to almost $100bn as it reported the second-highest annual profit in its history, even as lower oil prices and state-led production cuts weighed down on performance....
...Marc Filippino So, Tom, what is Murray’s top priority or top priorities as he becomes permanent CEO? Tom Wilson I think he’s really gonna be focused on the share price....
...Metals prices have since retreated from those record levels. It trimmed its dividend for 2023 to $4.35 per share, down 12 per cent from the previous year....
...Thanks for reading — Tom Is the UK losing its pole position in energy transition?...
...“Magical and fun and lovely” is how restaurants appear to outsiders, says the chef Tom Kerridge at his new pub in west London. “Actually, the reality is it’s very, very hard work.”...
...“I know that there is a theory which says renewables are cheaper, so it will be a lower price,” he said....
...In 2022, Aramco made record profits of $161bn as energy prices soared and its quarterly dividend payments remains the most important single source of revenue for the Saudi government....
...Marc Filippino Tom Wilson is the FT’s natural resources editor. Thanks, Tom. Tom Wilson Thanks very much....
...— Is Initial Price Talk a genuine price discovery tool? (Bond Vigilantes) — TikTok Shop is huge. Will it last?...
...Tom Broughton, 42, who created spectacles brand Cubitts in 2013, has just experienced a busy January — a time when many people return broken glasses for repair after Christmas....
...Tom Slater, the trust’s manager, said: “In a volatile period for growth investment, we own a portfolio of established companies achieving rapid expansion . . ....
...Thanks for reading. — Tom The G7’s price cap conundrum The first thing to remember about the price cap is that arguably it would not exist had the EU not surprised US policymakers last year with a plan...
...The FT revealed last year that the Dubai vehicle had traded a type of Russian oil that routinely priced above the G7 price cap, while using western-based insurance services — a potential breach of restrictions...
...Tom Bill, head of UK residential research at estate agency Knight Frank, said “an issue of affordability” had been the “primary reason” for London’s underperformance over the past eight years....
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