IIR's February 27 Market Scorecard Brings You Breaking Geopolitical News

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Researched by Industrial Info Resources (Sugar Land, Texas)--Stay current with the latest geopolitical events, and more importantly, instantly connect to how these events may impact you and your business strategies.

Event	MarCon*	IIR Comment	Outlet	IIR News
U.S. economic woes, plus supply-side pressures, leave oil range-bound		The price of oil this week could be in a tug-of-war between lackluster momentum in the U.S. economy, Chinese demand and an upcoming loss of Russian oil, leaving analysts to question whether $100 crude is still in the cards. Crude prices were headed for a second consecutive weekly loss on Friday, pivoting largely on U.S. data. A lower-than-expected read on fourth quarter gross domestic product, hints at a possible higher rate hike from the U.S. Fed and bloated crude oil inventories all created headwinds for the commodities market.	Houston Chronicle	IIR's February 20 Market Scorecard Brings You Breaking Geopolitical News
Oil slips as dollar firms, Russia pipeline halt limits slide		Oil prices edged lower on Monday as a stronger dollar discouraged buying though losses were limited by supply concerns after Russia halted exports to Poland via a key pipeline. The dollar hovered near a seven-week peak on Monday after a slew of strong U.S. economic data reinforced the view that the Federal Reserve will have to raise interest rates further and for longer. "Crude continues to take direction from the sentiment in the broader financial markets," said Vandana Hari, founder of oil market analysis provider Vanda Insights. "If risk aversion continues to grow, crude will likely come under renewed pressure."	FXEmpire	IIR's February 13 Market Scorecard Brings You Breaking Geopolitical News
Top Energy Trader Expects Oil Prices To Enter The $90-$100 Range		Oil prices could hit the $90-$100 per barrel range in the second half of this year as global demand is set to reach record levels amid constrained supply, Russell Hardy, CEO at the world's largest independent oil trader, Vitol Group, told Bloomberg Television on Monday. "The prospect of higher prices in the second half of the year, in the sort of $90-$100 range, is a real possibility," Hardy told Bloomberg in an interview. According to Hardy, global oil demand will rise by 2.2 million barrels per day (bpd) in 2023 compared to 2022 and will reach a record level, driven by a jump in diesel, naphtha, and liquid petroleum gas (LPG) demand.	OilPrice	Crude Oil Price, China Oil Imports: Your Daily Energy News
Sanctions Net Widens to Catch Russia's Middle East Shipping Company		The European Union sanctioned a Dubai-based subsidiary of Russia's state-owned shipping giant, the manager of dozens of oil tankers that ferry Russian oil and natural gas around the world. The sanctions targeting Sun Ship Management include an EU asset freeze and ban on financing the company, which the EU said is part of government-controlled shipping company Sovcomflot. The move against Sun Ship was part of the latest package of measures detailed over recent days from the EU, U.K. and U.S.	WSJ	U.S., China, Russia: No One's Backing Down as Oil, Gas Demand Rises
China accuses U.S. of 'bullying' with new 'illegal' sanctions		China on Monday accused the U.S. of "outright bullying and double standards" in leveling what it called "illegal" sanctions on Chinese companies as part of U.S. actions against Russia's Wagner Group and related companies and individuals. The entities were targeted for their role in the war in Ukraine and mercenary activities, including human rights abuses, in Africa. The sanctions "have no basis in international law or authorization from the Security Council, and are typical illegal unilateral sanctions and long-arm jurisdiction," Foreign Ministry spokesperson Mao Ning said at a daily briefing.	AP News	IIR's February 6 Market Scorecard Brings You Breaking Geopolitical News
Is The ESG Colossus Stumbling?		Carbon dioxide, a greenhouse gas, constitutes the 'control knob' of climate change. Hence the urgency in 'saving the planet' by rapidly shutting down the fossil fuels industry ("net zero by 2050") with ESG and stakeholder capitalism leading the charge. According to a recent study by Goldman Sachs, investment delays in oil and gas projects since 2014 will lead to a loss of 10 million barrels a day (or another Saudi Arabia) and 3 million barrels per day of oil equivalent in liquefied natural gas (LNG) (or another Qatar) by 2024-25. The bank warned: "We have exhausted all of the spare capacity in the system, and can no longer able to cope with supply disruptions like the one we are currently witnessing because of the Russia-Ukraine conflict."	Forbes	Energy Transition Runs into Cost Concerns
Week 02/20/23 - 02/27/23		West vs East: Like the narrative of a US MLB All Star Game; sides are being chosen. The West continue to pitch the curve of Sanctions against the East's formidable hitters the Bear & Dragon. But they are digging into the box and will hardly be easy outs. As the World will need to replace hydrocarbons from the Bear; while expecting demand to rise from the Dragon. All of this as the West's strongest pitchers - Economics & Dollar - are throwing heat. Though the West's bench coach Vitol warns in the end this could be a high priced game. Who will blink first?
*MarCon (Market Condition 1-5, with 5 being the highest impact) indicates directional bias or price effect for the relevant commodity (Oil, Natural Gas, Chemicals, etc.) and is graded by our team of experts here at IIR.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).