Sparta
@SpartaCommo
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Dirty freight rates are climbing fast. It's not a random spike. Saudi crude lost its pipeline shortcut. Every barrel now has to clear Hormuz instead, and that inefficiency is showing up directly in tanker rates.
Jay Maroo, Sparta:
#oott# #freight# #crudeoil# #tankers#
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Diesel's east-west spread just blew past minus $90 a ton. That's up from minus $70 just weeks ago, already a record then. Singapore diesel is now so much cheaper than Europe that Indian cargoes out of Sikka are flowing west instead of east.
Full episode out now:
#oott# #diesel# #oilmarkets# #commoditytrading#
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Atlantic fuel oil can't catch a break. Venezuelan barrels keep flooding the market and Iraqi molecules are sneaking in via the Syria-Jordan route, wrecking blending margins.
The East, meanwhile, is short on resin as Russian exports keep falling.
Nikolas Plonski breaks it down:
#oott# #fueloil# #oilmarkets# #commoditytrading#
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A Iran-Oman deal in Hormuz? Yet a tanker is hit in the same week.
This week: Jay Maroo, Aaron Kildow and Nikolas Plonski on what's actually moving.
Inside this episode:
▸ SPR barrels – why the US is releasing the wrong crude at the worst time
▸ TI-Brent squeeze – why Gulf Coast barrels can't compete into Europe right now
▸ Diesel's east-west blowout – the spread just hit minus $90 a ton
Listen now:
#oott# #oilmarkets# #crudeoil# #commoditytrading# #oiltrading#
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