TRADER MEETING NOTES
A premium report highlighting the market views of senior traders
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Latest
Hormuz transits remain badly disrupted, with attacks on tankers at their highest weekly level since the war began.
14 page report
Exports are a Yuan-Way Street…
Golden Week has begun in China and, by prioritising local demand, is turning Asia blue....
14 page report
Vin(dicating) Diesel Exports
Rubio downplays UN talks progress; Iran rejects demands; false diesel export ban report crashes HOGO to record lows.
14 page report
Yanbu, We Have A Problem
In a triple-digit flat price and crack environment, expect greater frequency of jawboning efforts from the White House...
14 page report
Brent hits a century
With rates extraordinary, refiners have been racking up the runs, but the innings is in its final overs, with maintenance looming....
14 page report
Everything, Everywhere, All At Once
US strikes Larak; Iran retaliates on Gulf states; Brent nears $95 amid short squeeze risk, bond yields climb; sour crude firms.
14 page report
Caught India Middle
Putin said Russia is expanding exports to India. Looming 100% secondary sanctions from the US are putting India in a tricky position....
14 page report
It’s the economy, stupid!
Things can change quickly at any moment, and it would not be far-fetched to see greater jawboning attempts by the White House...
14 page report
A Brief Moment In The ($90) Sun
Brent slips below $90 as tight products, disrupted waterways and refinery risks keep the market supply-side bullish.
16 page report
A Moment in the Eye of The Hurricane
The week started quietly, with no overnight strikes announced by CENTCOM on 31 Jul. That calm was unfortunately short-lived....
16 page report
Teeter-Totter
Middle East tensions re-escalate as Hormuz closes, tanker attacks resume, US-Iran strikes intensify, and storm risks emerge.
16 page report
What’s worse than one Strait being under attack…?
Brent targets $100 as Houthis declare naval blockade on Saudi Arabia; Asia refined products rally substantially; gasoil cracks breach $70
16 page report
It’s Not Coming Home (The Barrel, Through Hormuz)
Brent stabilises below $85 as backwardation returns. Dubai weakens sharply, while refining margins climb to record highs.
16 page report