How China Could Trigger The Next Sharp Selloff In Crude

If ever there had been a time when crude oil was going to reach the US$200-plus per barrel (pb) levels posted in clickbait headlines or bank research reports talking their own books then it is now. With Russia’s invasion of Ukraine, geopolitical risk has not been higher in recent memory, there are swingeing cuts in the ready supply of oil and gas from bans in place or set to come in on Russia for the same reason, and the prospect of compensatory supplies coming from Saudi Arabia or any of its OPEC brethren have been dashed in the realisation…