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Tidbits, Oil, SAF, Economy, Markets & Rain Days Update 10/28/23

Highlights


The EU Commissioner for Energy called an emergency meeting yesterday to discuss the possibility of a diesel supply shortage. One EU official said to the press, "Oil is important. Not enough diesel could lead to strikes. Is this a 1973 moment or not?"

In late October 1973, Arab Oil Exporting countries refused to sell crude to countries who supported Israel in the Yom Kippur War that began on the 6th of October. The serious fighting was pretty much over within 10 days. Oil embargo lasted 6 months and it was an ugly 6 months for Japan, Western Europe and the USA.

Alexandr Okonechnikov is an exporter of grains and oilseeds from Ukraine’s largest grain port, Odessa. His website: taruscorp.com

We asked Alexandr yesterday if he could source sunflower oil. His reply: "Exports are almost stopped for all of Ukraine for several weeks as authorities are seeking smugglers."

Andrey Sizov says the Ukrainian Odessa Black Sea corridor is up and running again after a few days' pause.

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