Flux Markets | Climbing the (Escalation) Ladder Skip to main content
Our reports have now moved onto our Flux platform. Existing customers can Login to Flux for access, or visit The Officials to sign up for free trial access.

Our reports are now published by The Officials, and accessible through the Flux platform. Login to Flux 4.0 to view them, or visit The Officials website to learn more and sign up to a free trial.

Climbing the (Escalation) Ladder

Hormuz risks drive oil volatility as Iran escalates attacks, LNG hit, supply fears rise, and WTI/Brent spread widens.
Published: March 19, 2026
Written by:
Vincent Wu

Vincent Wu

Research Associate, Flux
Vincent Wu
,
Mita Chaturvedi

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi
and
Donna Dong

Donna Dong

Research Analyst, Flux
Donna Dong
Reviewed by:
Giovanni Simonetti

Giovanni Simonetti

Junior Data Analyst, Flux
Giovanni Simonetti
16 page report
Share

As the old saying goes, there are decades where nothing happens, and there are weeks where decades happen. Well, such decades are happening within weeks, with the perennial hypothetical of the Strait of Hormuz closure acting out in real time.

Premium Content

Our reports are now part of The Officials, and available exclusively on the Flux platform. Existing customers can Login to Flux to access them, or you can visit The Officials to sign up for free trial access.

Written by

Vincent Wu

Research Associate, Flux
Vincent Wu

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi

Donna Dong

Research Analyst, Flux
Donna Dong

About Trader Meeting Notes

A premium report highlighting the market views of senior traders

More News

Brent Firms Despite Potential ‘Shadow Fleet’ Restriction Easing

Brent firms to $106.12 as US eyes shadow fleet easing, IEA speeds stock releases, Russian diesel returns, Ukraine hits Ryazan.

Band-Aids for Bullets

We see the impact of such high diesel prices, with September US PPI rising by 1.3% m/m against expectations of a 0.5% increase...
14 page report

All-Time High(SFO)

HSFO E/W at new all-time high, but VLSFO strength is slipping

Brent lower at $104 in shadow fleet relief rumours

Washington is weighing sanctions relief for Russia’s shadow fleet, alongside a 1.8-million-tonne Russian diesel purchase....