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Brent oil tops $104 after Trump says ceasefire with Iran is on ‘life support’

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Published10 MAY 26 - 15:18 Reading time  minutes

“Maybe you don’t see $200 on crude, but you will see that on a regular basis on products, which is what people consume. You are going to end up in a scenario where poorer countries are going to have a humanitarian crisis, Europe is going to have an economic crisis and the U.S., a political one.” — Felipe Elink Schuurman, CEO & Co-founder at Sparta Commodities

  • Expert: Felipe Elink Schuurman (CEO & Co-founder, Sparta)
  • Publication: CNBC
  • Market Focus: Crude Oil, Refined Products, Demand Destruction, Geopolitical Risk
  • Geographies: Middle East, Europe, US, Global

In a recent interview with CNBC’s Squawk Box Europe, Sparta’s CEO & Co-founder, Felipe Elink Schuurman, draws a direct parallel between current supply losses of ~9mb/d and the 2020 Covid demand shock — arguing the market faces the same scale of adjustment, but this time through demand destruction rather than a demand collapse. The key risk for traders is not crude hitting $200, but refined products doing so regularly, as richer nations pay up while poorer countries face a humanitarian crisis. Europe faces an economic crisis and the U.S. a political one as the conflict drags on. Traders should watch product crack spreads and downstream demand signals closely for where the destruction hits hardest and fastest.

[Read Felipe Elink Schuurman’s full market commentary on CNBC]

Author

Felipe Elink Schuurman

CEO & Co-founder

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