Podcast: Diesel cracks blow past 100$. Dirty freight surging.
Felipe Elink Schuurman is joined by James Noel-Beswick and Michael Ryan as Trump threatens Oman and squeezes Iran’s UAE-run cash flows. Russian refinery strikes cut runs to a 24-year low, driving diesel cracks past $100 a barrel, while European freight rates collapse to six-month lows.
Key takeaways:
▸ Suezmax and VLCC rates are surging as owners chase Red Sea and India cargoes, pulling tonnage from the Atlantic.▸ European MR freight rates have crashed to six-month lows as Russian diesel disappears from the region.▸ Iraq is discounting crude by $25 a barrel just to move cargoes.
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