ALIBABA REBOUNDS FROM A LOWER OPEN, WITH GAINS WIDENING TO 5.8%

According to TankerTrackers.com, Iran has not successfully exported crude oil by sea over the past 28 days. Some refined products were shipped as they were not sanctioned by the U.S. OFAC. Kharg Island has not loaded any tankers since May 6 due to an oil leak Tehran denies. Many empty and cargo-laden tankers remain near the blockade perimeter and off Pakistan’s coast. TankerTrackers defines a successful export as a tanker crossing the U.S. Navy blockade without returning.

CORRECTED-KUWAIT LOWERS (NOT RAISES) JUNE CRUDE PRICES FOR ASIA – PRICING DOCUMENT