Podcast: Hormuz flips again and gasoline cracks get smashed
June Goh hosts Neil Crosby and Abhishek Kumar as Hormuz talks flip on and off again, smashing gasoline cracks. They cover Iranian tanker pileups, China’s bigger export quotas, Russian diesel exemptions, Murban futures’ wind-down, and a bullish fuel oil case into September.
Key Takeaways:
▸ Gasoline cracks get smashed, and there is still no good trade in sight.
▸ China lifts export quotas, but quotas do not translate to actual exports.
▸ Bias remains on the short side for distillates as we await a final Hormuz agreement
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