Who says pirates can’t wear shades?
Edition: Euro Edition
The diff gets crushed and there are Pirates in the Mediterranean. Meanwhile, the US cold snap could have implications on Gulf Coast refineri
Freight Carrying the Weight
3.5% neutral, HSFO crowded longs/caution, VLSFO curve bullish but momentum fading; E/W spreads strong.
Published: January 22, 2026
Players priced out the US-Iranian tensions this week. Feb’26 3.5% barges cracks strengthened early in the week but have since been rangebound near -$10/bbl, with rising open interest driven mainly by buy-side positioning, though falling volumes temper bullish signals...
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