🔹US 🇺🇸 diesel market demand is surging while supplies remain at the lowest seasonal level for this time of year ever, with just 25 days of diesel supply, the lowest since 2008.

🔹American refiners 🏭 are enjoying the best-ever diesel margins, with the profit of turning a barrel of crude into one of diesel - i.e., the diesel crack spread 💰 - hitting a record high 📈 of $86.5 per barrel, up roughly 450% from the 2000-2020 average of $15.7 per barrel.

The reasons for the collapse in inventories & the price surge are four-fold.

📌 Local diesel ⛽️ demand has recovered quicker than gasoline & jet-fuel from the impact of pandemic lockdowns.

📌 American diesel exports 🚢 running at unusually high level.

📌 The US also has lower refining 📉 capacity than before.

📌 The US was importing a significant amount of Russian 🇷🇺 fuel oil before sanctions, which its Gulf of Mexico-based refiners turned into diesel.

🔹Türkiye 🇹🇷 lambasts the US 🇺🇸 for ‘bullying’ it's own ally. Rather than threatening the Saudis 🇸🇦 over oil 🛢prices, the US should lift sanctions on Iran 🇮🇷 and Venezuela 🇻🇪, Türkiye's FM Mevlüt Çavuşoğlu says.

🔹“The bullying against Saudi Arabia 🇸🇦is inappropriate. We are going through similar challenges in energy prices but we don’t threaten anyone.

Video source - Mevlüt Çavuşoğlu & Ulusal Kanal.

Recently reported on this channel:

💠 US 🇺🇸 accuses the KSA of siding with Russia. Options are being reviewed for what actions should be taken against the Kingdom 🇸🇦

💠 US 🇺🇸 anti-trust legislation (NOPEC Bill) awaiting approvals. It can be used to point to Saudi 🇸🇦 Aramco as being collusive in price-fixing through adjusting output to manage oil prices.

💠 OPEC+ defends their role in 🛢 oil market stability at JMMC of the OPEC+ group HQ 🇦🇹.

💠Saboteurs attempt to blow up 🧨 Turkstream Pipeline infrastructure. President Putin has proposed building a major gas hub in Türkiye 🇹🇷

🔹Police 🚓 brutalities continue amid a breakout of protests in Moldova 🇲🇩. Reports of protestors and police clashes. Moldovans for months, have been protesting inflated 📈 prices for gas, electricity, water & other utilities.

🔹Protestors highlight the injustice of police 👮‍♂️ by setting up tents at the General Prosecutor's Office. Reports of a false flag by police, trying to frame protestors as attacking a journalist. Estimated 90,000 turnout.

🔹Despite western media blackout of these protests 🔥, there was a live video streamed on YouTube.

Video compilation courtesy Moldovan social media channels.

Previous Moldova protests reports on this channel:

💠 Last week Sunday, 50,000 protestors gathered across Chisinau🇲🇩, the capital of Moldova. Weekend before that 60,000 Moldovans protested.

💠 Thousands protest high energy prices during September in Chisinau. State-backed gas distributor Moldovagaz failed to fulfil wholesale payments to its sole gas supplier, Russia's 🇷🇺 Gazprom.

🔹Taiwan 🇹🇼 Semiconductor Manufacturing Co. (TSMC) has suspended production of advanced silicon for Chinese 🇨🇳 startup Biren Technology to ensure compliance with US regulations.

🔹 U.S. 🇺🇸 embargo on China will likely have broad repercussions. The controls also barred U.S. citizens or entities from working with Chinese 🇨🇳 chipmakers without explicit approval. Chipmaker says listening to the US by banning China is bad for business.

🔹TSMC 🇹🇼 commands 20% of global wafer fabrication & 92% of advanced chip capacity.

🔹TSMC Q3 2022 profit rose 79.7% 📈 over a year earlier to a record $8.8 billion amid surging demand.

Recently reported on this channel:

💠 US bans exports 🚢 to China of equipment for 14nm chips.

💠South Korea 🇰🇷 attempts to assure China 🇨🇳 on supply chain amid US pressure.

💠 US 🇺🇸 share of semiconductor R&D has dropped drastically.

🔹A steady increase in the combined flow of Russian 🇷🇺 crude via ships to Turkey 🇹🇷, China🇨🇳 & India🇮🇳 in recent weeks. Time is running out to deliver crude from Russia’s before EU 🇪🇺sanctions deprive vessels of insurance & other services from Dec. 5.

🔹Trading houses & refiners are racing to book storage tanks in Rotterdam for when EU sanctions take effect. Saudi Arabia 🇸🇦 & China 🇨🇳, jointly stressed the importance of stable long-term crude 🛢supply to the market.

🔹"Russia could largely evade the planned price cap on its oil..." — U.S. Treasury official. "There is a big enough shadow fleet 🚢 to continue Russian 🇷🇺 crude flows after Dec. 5" — Trafigura

🔹China's 🇨🇳 oil imports 🚢 from Russia soared 22% in September from a year earlier.

Last reported on this channel:

💠 OPEC+ defends their role in 🛢 oil market stability at JMMC of the OPEC+ group HQ 🇦🇹.

💠 US/EU oil price cap plan on Russian 🇷🇺 oil can backfire.

💠 Türkiye 🇹🇷 lambasts the US 🇺🇸 for bullying Saudi Arabia

🔹Ursula von der Leyen, President of the European Commission 🇪🇺, sends shockwaves across Africa, Latin America & Asia. She revealed a task force to confiscate (steal) frozen Russian 🇷🇺 assets during a press conference on Ukraine 🇺🇦.

🔹This sets a precedence that no country's assets are safe in western jurisdictions & economic bullying will be used by the west.

🔹The EU 🇪🇺 just undermined ‘Lex Mercatoria’ (Latin – ‘Merchant Law’). The autonomous legal order of international economic relations for trade & rules for settling disputes. The west has now destroyed, how money & currencies function in relationship to trade & private property rights.

Last reported on this channel:

💠 SCO countries 🇷🇺🇨🇳🇮🇷🇮🇳🇵🇰🇰🇬🇰🇿🇹🇯🇺🇿 begin to shift trade transactions outside western currencies/payment systems

💠 BRICS 🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦 nations open to bypassing SWIFT using Russia's SPFS.

💠 China 🇨🇳& Russia 🇷🇺 reduces USD & Euro use for trade.

🔹Reports- Major 🇺🇸 US cellular providers and Apple's messaging service are experiencing disruptions. ⚠️ WhatsApp also experienced outages earlier today.

🔹Apple's iMessage 📱and FaceTime were down for a 30 〽️ minute period and is now restored. Google searches for "iMessage not working" spiked around noon.

🔹Verizon, T-Mobile, and AT&T customers started reporting disruptions around 1200 ET. Reports on Down Detector may be exaggerated for cellular providers as there is a possibility of iPhone users facing disruptions, reporting their cellular provider as down.

🔹German 🇩🇪 utility Uniper, today, reported a 4.8 billion euros ($4.78 billion) loss 📉 in the first 9 months of 2022, resulting in the loss of more than half of the company's registered share capital.

🔹Sanctions on Russian gas have pushed Uniper to purchase gas replacement at significantly higher market prices and accumulate losses.

🔹Uniper is shutting half the office space in its HQ & lowering 🌡 temperatures 🥶 in areas remaining open to save gas.

Video courtesy WION.

Last reported on this channel:

💠 Electricity 🔌 provider Uniper 🇩🇪 to be nationalised and bailed out.

💠 Uniper increasing debt 📈 & low levels in Rhine river affect hydro-power plants / commodity transport 🚢.

💠 Uniper seeks gov't bailout as sanctions on Russia 🇷🇺 result in higher gas prices.

💠 Uniper reducing storage volumes 📉 to maintain liquidity.

💠 Uniper began tapping into ⛄️winter gas storage to meet customer demand.

💠 German 🇩🇪 gov't attempted to pass new gas tax 💰to help Uniper.

🔹Russian 🇷🇺 energy major Gazprom announced that it will pay record dividends to shareholders. Its board had recommended a dividend payout to shareholders after bumper profits 📈 despite sanctions. The total volume of dividend paid out will exceed 1 trillion rubles (around $20 billion).

🔹Gazprom has begun operational tests on the Kovykta natural gas field 🏭 in eastern Siberia, bringing Russia a step closer to boosting energy exports to China 🇨🇳.

🔹Deliveries of Russian gas to Europe, transiting Ukraine 🇺🇦 continue at the same volumes of 42.4 mln cubic meters.

Video courtesy Sean Poo.

Recently reported on this channel:

💠Hungary 🇭🇺 has agreed with Gazprom to re-route gas transit.

💠Gazprom 🇷🇺 to finalize deals to develop projects in Iran.

💠 NordStream 1 & 2 pipeline 🧨 sabotage video report.

💠 Gazprom move payments for gas exports to China 🇨🇳 away from USD/Euros.

💠 Sanctions affect Gazprom's turbine ⚙️ maintenance resulting in Nord Stream 1 shut down.

🔹 Saudi Arabia's 🇸🇦 energy minister Prince Abdulaziz bin Salman warned nations' that use of emergency oil reserves to manipulate prices, may result in more pain for energy markets in the event of future 🛢 shortages.

🔹 US 🇺🇸 President Biden released 180 million barrels of oil since April, with another release from the SPR of 14 million barrels announced this month. The SPR is at its lowest levels of oil since 📉1984. The U.S. has only a 25 day supply in it's diesel inventory.

Recently reported on this channel:

💠 US 🇺🇸 diesel supplies ⛽️ remain at the lowest seasonal level for this time of year.

💠 Historical charts showing US SPR depletion 📉 & declining refinery capacity.

💠 OPEC+ defends their role in 🛢 oil market stability at JMMC of the OPEC+ group HQ 🇦🇹.

💠 US 🇺🇸 reviewing various options regarding its relationship with Saudi Arabia 🇸🇦 after OPEC+ cuts.

🔹BASF 🇩🇪, the largest chemical producer 🏭 in the world announces cost saving plans & “permanent” downsizing in Europe. 🇪🇺 Operations in Europe face a triple burden of sluggish growth, high energy costs 📈 & over-regulation. Plans expansion of operations in China 🇨🇳.

🔹In Jan-Sept 2022, natural gas costs at BASF's European sites were 2.2 billion euros higher than a year earlier. Q3 results in Germany came at an operating loss 📉 of 130 million euros. In contrast BASF's sales in China 🇨🇳 rose 5.8%. BASF expands to 🏗 Zhanjiang, China.

Video courtesy GlobaLink.

Last reported on this channel:

💠 BASF face shipping 🚢 logistics setback due to low water levels in the Rhine river.

💠 Ammonia fertilizer & chemical 🏭 plants shut down across Europe (October post).

💠 Fertilizer industries shutting down in 🇪🇺 Europe for the month of September & August.

💠 Companies operating for over 100 years shut down in Germany 🇩🇪.

💠 Steel 🏭 manufacturers shut down across Europe.

🔹The 15th Verona (EAEU) Eurasian Economic Forum 🇷🇺 🇦🇲 🇰🇿 🇰🇬 🇧🇾 has kicked off in Baku, Azerbaijan 🇦🇿 instead of Italy 🇮🇹 for the 1st time. Issues of mutual economic cooperation, transport, & commodity markets to be discussed.

🔹The theme was "Eurasia on its Path to a New Geopolitical, Social & Economic Order. Transition to a New, Human-Centred Economy".

🔹Russia’s 🇷🇺 Minister of Economy, urges EAEU towards formation of an alternative system of international settlements independent of world reserve currencies.

🔹The head of Russia's VTB Bank said "ditching U.S. dollar 💵 & euro 💶 is an irreversible process for Russia".

🔹Russia and EAEU are considering the possibility of creating free trade zones with Mongolia 🇲🇳 & the UAE 🇦🇪.

🔹Azerbaijan 🇦🇿 interested in direct investments from EAEU states & expansion of trade relations.

🔹 Iran 🇮🇷 transport officials & the EAEU Trade Council, expressed willingness over launching rail transit 🚂 across Kyrgyzstan, Russia, Belarus.

🔹Russian 🇷🇺 President Putin hailed Tayyip Erdogan as a "strong leader" who always defended Türkiye's interests. He said Erdogan was not always an "easy partner" to deal with, during today's plenary session of the Valdai Discussion Club in Moscow region.

🔹Türkiye’s 🇹🇷 finance minister has defended Ankara’s economic ties with Russia as “good neighbourly relations” even as western governments raise concerns & warn Türkiye of sanction evasion.

🔹President Putin's speech and Q&A went on for almost 4 hours.

Last reported on this channel:

💠 Türkiye 🇹🇷 lambasts the US 🇺🇸 for bullying Saudi Arabia.

💠Saboteurs attempt to blow up 🧨 Turkstream Pipeline infrastructure. President Putin proposed building a major gas hub in Türkiye.

💠 The 🇺🇸 US Treasury sanctions on any institution outside Russia 🇷🇺 using the MIR payment system forces Türkiye to stop using MIR. Türkiye weighs possibility of using the Turkish 🇹🇷TROY payment system instead.

🔹Czech Republic 🇨🇿 - Tens of thousands of people gathered in Prague today (Oct 28th), to demand that the current Czech gov't give way to an administration which would adopt a neutral foreign policy, end military support to Ukraine 🇺🇦 & resume purchases of Russian 🇷🇺 natural gas.

🔹Czechs used a national holiday to rally against the pro-Western gov't that supports Ukraine. The protesters have repeatedly condemned the EU 🇪🇺 sanctions against Russia 🇷🇺 & opposed Czech membership in the EU/NATO. “Russia’s not our enemy, the gov't of warmongers is the enemy,” one speaker said.

Video compilation sourced from Telegram & Twitter posts.

Last reported on this channel:

💠 Group called 'The Czech Republic 🇨🇿 in the First Place', organises protests & call for the resignation of the gov't over its alleged failure to manage the ongoing energy 🔌 crisis.

💠 Over 70,000 Czech 🇨🇿 protestors went to the streets of Prague, demanding the gov't take a neutral stand on the ongoing Russia-Ukraine crisis.

🔹U.S. 🇺🇸 exports 🚢 of nitrogen fertilizers / ammonia jumped to a multi-year high this summer after surging natural gas prices in Europe made U.S. shipments more competitive, since Russia 🇷🇺 is under sanctions.

Previous fertilizer posts on this channel:

💠 Norway's 🇳🇴 Yara International says Q3 2022 ammonia output dropped 📉 to 57% of capacity in Europe 🇪🇺, due to skyrocketing natural gas 📈 prices.

💠 UN 🇺🇳 spoke with EU 🇪🇺 leaders about lifting sanctions on Russian fertilizer exports. Russia 🇷🇺 wants to give 300,000 tons of Russian fertilizers stuck at EU ports to poor countries free of charge.

💠 Fertilizer manufacturing 🏭 shutdown across Europe.

💠 Ammonia fertilizer manufacturers to shut down in Germany🇩🇪, Lithuania 🇱🇹 & Poland 🇵🇱.

💠 Ammonia fertilizer producers in Norway🇳🇴 , Austria 🇦🇹 & UK 🇬🇧 cut production.

💠 Russia 🇷🇺 blocked from shipping fertilizers to poor countries for free.

💠 Belarus' 🇧🇾 president warn that sanctions will lead to global food crisis.

🔹US 🇺🇸- Logistics & fuel supply co., Mansfield Energy, says there is a shortage of diesel ⛽️in Southeastern US, including South & North Carolina. Carriers sometimes need to visit different terminals for supply 🚚.

🔹U.S. diesel supplies are becoming critically low with shortages & price spikes likely to occur in the next six months unless fuel consumption slow. Stocks of diesel & other distillate fuel oils were the lowest 📉 for the time of year since 1982.

Last reported on this channel:

💠 American oil refiners 🏭 are enjoying the best-ever diesel margins/profits.

💠 Saudi Arabia's 🇸🇦 energy minister warns nations' that use emergency oil reserves to manipulate prices.

💠 Historical charts showing US SPR depletion 📉 & declining refinery capacity.

💠 OPEC+ defends their role in 🛢 oil market stability at JMMC of the OPEC+ group HQ 🇦🇹.

💠 US 🇺🇸 reviewing various options regarding its relationship with Saudi Arabia 🇸🇦 after OPEC+ cuts.

YouTuber Maneco64 spoke on this diesel crisis today.

🔹CEO of Spain's 🇪🇸 oil refiner Repsol SA- The loss of Russian diesel supply, combined with disruption of refining 🏭 in France, have left parts of Europe 🇪🇺short. “We are running out of middle distillates (diesel, heating oil, jet fuel) in some European countries,”.

🔹Ireland 🇮🇪 - Diesel at its second-highest price on record ⛽️, 4% more expensive than last month. Video- courtesy Ireland's RTE.

Last reported on this channel:

💠 The front-month East-West swap, a measure of the premium for diesel ⛽️ in Europe over Asia, widened to $60.50 a ton. It averaged $7.40 a ton in 2021.

💠 Diesel and petrol ⛽️ stations in parts of France 🇫🇷 are running out of fuel due to worker strikes at 🏭 oil refineries.

💠 The German 🇩🇪 gov't confiscates Russia's 🇷🇺 state-owned Rosneft's assets in order to control the PCK Schwedt oil refinery 🏭 to maintain diesel supply for Germany.

🔹Russia has halted its compliance with a grain deal with Kiev, 🇺🇦 brokered by the UN 🇺🇳 & Türkiye 🇹🇷, after Ukraine launched a major drone attack on ships 🚢 involved in securing safe passage for agricultural cargo, in the Black Sea.

🔹Russia’s 🌾 grain harvest this year has already set a new record. “To date, 147.5 million tons in bunker weight have been harvested" 🚜.

🔹 The western sanctions continue on ships 🚢 and shipping insurance, preventing agricultural exports.

Previous developments to this story:

💠 The grain deal hypocrisy by western countries, was exposed. Ukrainian 🇺🇦 grain is exported to Europe 🇪🇺not poor countries. (Before the deal, Russia was being blamed for starving poor countries from Black Sea grain access).

💠 Chairman of the African Union visits Russia 🇷🇺 & asked President Putin for help with solution to food 🌾 crisis in Africa.

💠 Grain deal signed with safe routes 🚢 made in Black Sea, after Ukraine mined 💣 the Black Sea. Previous deal was botched by Ukraine.

🔹The 🇺🇸 Biden admin plans further export controls that would clamp down on China’s 🇨🇳 ability to gain access to semiconductors & expects to soon secure a deal for allies to issue their own restrictions on selling such goods to China.

🔹Despite the federal gov't efforts to block Chinese telecom equipment from US 🇺🇸 supply chains, state & local gov'ts continued to acquire such.

🔹Manufacturers are dealing with "six months of stockpiles" 📈 that they built up as a result of 2021's shortage.

Video courtesy Spotlight on China.

Background to development reported on this channel:

💠TSMC 🇹🇼 complies with US regs. & suspended production of advanced silicon for China's 🇨🇳 Biren Tech.

💠 US bans exports 🚢 to China of equipment for 14nm chips.

💠South Korea 🇰🇷 attempts to assure China 🇨🇳 on supply chain amid US pressure.

💠 US 🇺🇸 share of semiconductor R&D has dropped drastically.

🔹 Moldova - Police brutalities reported with 28 people detained, amid another weekend of protests 🇲🇩. Valery Klymenko, Chisinau municipal councilor from the Shor party, suffered a heart attack after being detained.

🔹 Stand-offs between citizens & police 👮‍♂️are growing more violent 🔥 at every protest. Moldovans for months, have been protesting inflated 📈 prices for gas, electricity, water & other utilities.

🔹 Western media report the protests as a Russian 🇷🇺 operation for regime change.

Previous posts on this channel:

💠 Last week Sunday, police 🚓 brutalities continued amid a breakout of protests in Moldova. 🇲🇩 Western media did a blackout of these protests.

💠 Sunday, 2 weeks ago, 50,000 protestors gathered across Chisinau🇲🇩, the capital of Moldova. Weekend before 60,000 protested.

💠 Thousands protest high energy prices during September in Chisinau. State-backed gas distributor Moldovagaz failed to fulfil wholesale payments to its sole gas supplier, Russia's 🇷🇺 Gazprom.

🔹Qatar’s 🇶🇦 energy minister: "EU proposals to set limits on the price paid for natural gas are hypocritical”. "Interfering in markets contradicts the EU's competition rules 🇪🇺 previously applied to producers". “The free market is always the best solution,”.

🔹Norway's 🇳🇴 Equinor CEO says, "Any price cap is not really solving the fundamental problems". "In fact, it can be counterproductive, increasing demand while supply is not increasing."

🔹Europe has relied on U.S. 🇺🇸 LNG imports to offset the loss of Russian gas, receiving 70% of U.S. LNG exports 🚢 in Sept.

🔹Centrica said the UK 🇬🇧 has some of the lowest levels of gas storage in Europe, compared to Germany 🇩🇪@ 89 days' worth, France 🇫🇷 @ 103 & the Netherlands 🇳🇱 @ 123.

Previously reported on this channel:

💠 EU 🇪🇺 plans to use joint purchasing power as leverage in gas negotiations.

💠 Russia 🇷🇺 has warned that a gas price cap can result in gas flows cut-off.

💠 Hungary 🇭🇺 would not support a price cap on Russian gas.