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TRADER MEETING NOTES

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Positioning For Peace

The Iran war has hit its 100-day mark, but no peace deal is in sight. Strikes are exchanged, but short of widespread escalation...
16 page report
11 June 2026

Deal or No Deal

Just when you think the bullish winds have been taken out of the market, the bulls find a way to steady the ship as Brent rebounded from....
16 page report
4 June 2026

I think I’ve seen this film before

We will need a more robust confirmation of a ceasefire. The longer such a confirmation takes, the more likely it is we won't see one...
16 page report
28 May 2026

The Art of the Jawbone

Oil swings on Trump’s Iran rhetoric, but tight inventories and bullish positioning keep supply risks elevated.
16 page report
21 May 2026

Reaching the summit

Hormuz easing hit crude, but tight inventories support markets; East gasoline/naphtha strong, HSFO stabilising, butane supported.
16 page report
14 May 2026

Sell the Rumour, Buy the Fact

We have seen theories of market manipulation, but we are yet to see a declaration of peace…
16 page report
7 May 2026

M.A.D

US–Iran stalemate deepens; Hormuz tensions rise, talks collapse, threats escalate, with both sides edging toward mutual destruction
16 page report
30 April 2026

You get a blockade, and you get a blockade! Everyone gets a BLOCKADE!

The good news: the ceasefire is extended, diplomacy is prevailing; the continued pause of kinetic action is very welcome. The bad news....
16 page report
23 April 2026

Tolling and Trolling

Conflicting US–Iran signals shake oil markets; risk eases, US exports rise, but weak demand signs emerge in Europe.
16 page report
16 April 2026

Rough Seas(fire) Ahead?

There has been a stark contrast between the deafening volume of speculation and hot takes and the incredibly low volume traded over the past
16 page report
9 April 2026

Conflict-ing Narratives

Conflicting narratives: Trump speech sparks renewed bullish sentiment; Dated Brent physical premiums reach record highs
16 page report
2 April 2026

Keeping Up With The Kharg-dashians

US–Iran whiplash drives oil volatility; mixed signals, attacks, and talks claims cut liquidity as traders stay sidelined
16 page report
26 March 2026

Climbing the (Escalation) Ladder

Hormuz risks drive oil volatility as Iran escalates attacks, LNG hit, supply fears rise, and WTI/Brent spread widens.
16 page report
19 March 2026