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
TRADER MEETING NOTES
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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
Hungry for TACOs
US-Iran tensions escalate as strikes hit vessels and targets. Brent spikes $8 before easing as markets digest renewed volatility.
16 page report
Trying to beat Contan-Congo
Brent nears $70 as crude weakens, but strong refining margins and heavy shorts raise risks of a sharp squeeze.
16 page report
Contang-oh no!
Nevertheless, the Strait of Hormuz is open, and thus, oil shall flow.....
16 page report
Memoran-Done…?
Having been burned so many times by declarations that the war is over, the scepticism of the market is hardly unbelievable....
16 page report