TRADER MEETING NOTES
A premium report highlighting the market views of senior traders
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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
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
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
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
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
Reaching the summit
Hormuz easing hit crude, but tight inventories support markets; East gasoline/naphtha strong, HSFO stabilising, butane supported.
16 page report
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
M.A.D
US–Iran stalemate deepens; Hormuz tensions rise, talks collapse, threats escalate, with both sides edging toward mutual destruction
16 page report
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