1. Asia to Remain Focus of Middle Eastern Producers as Europe Tightens Further- Despite IEA members agreeing to release 60 million barrels of oil in a coordinated effort to tame runaway prices, with the US releasing half of the total, Brent is up at $110 per barrel, an eight-year high. - The risk of Russian supply being kept away from markets has made backwardation so steep that now the difference between the first and second months of the Brent futures curve stands at around $5 per barrel. - Concurrently, the Brent-Dubai EFS spread, a key indicator…
