Goldman Sachs trading desk attributes the recent plunge in oil prices to a combination of weaker physical markets, decreased Middle East risk premium, and other market dynamics.
The U.S. has imposed sanctions on three U.A.E.-based maritime companies and three vessels for transporting Russian oil above the imposed $60 price cap.
Interest rates went from an 800-year low to a 16-year high in a few years, and this development has had a severe impact on the financial structure of many energy companies