Podcast: Hormuz transits accelerate but risk is high.
Neil Crosby hosts with Michael Ryan and June Goh. Growing Hormuz transits, a record 262 VLCC orders, Atlantic tonnage oversupply, softening Dubai premiums, and why Singapore VLSFO blend margins are building a bullish case into Q3.
Key Takeaways:
▸ Cushing approaching its floor – the WTI Afra arb to Europe has already started to close off.
▸ Too many VLCCs, not enough cargoes – the Atlantic tonnage trap.
▸ PG crude softens on more transits through the Strait – but risk of an Iranian reaction is still running high.
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