Podcast: Russian threats squeeze oil markets and push product prices higher
In this week’s episode, Neil steps in as host as the team unpacks a chaotic stretch in the oil market—from Russian export disruptions and the uncertain trajectory of US sanctions to a diesel market that has gone ballistic on genuine physical tightness. They explore shifts across crude grades, including North Sea softness, WAF heaviness, and surprising crude compatibility issues triggered by the Al-Zour outage. Light-ends remain volatile, gasoline premiums surge despite weak arb signals, and NGLs pile up in the US, painting a complex picture of a market where fundamentals and fear are colliding in unexpected ways.
Key Takeaways:
- Why the market is suddenly terrified about Russian product supply
- The diesel spread that has traders calling it “ballistic”
- How a refinery outage in Kuwait is quietly reshaping global crude flows
- The surprising crude blends refiners can’t mix without blowing things up
- A gasoline market behaving in ways it absolutely shouldn’t on paper
- What the first long-term US–India LPG deal really signals
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Distillates strength pulls further ahead after a short breather, as tightness looms ahead; jet looks...
Diesel arbs into Europe are mostly closed despite the recent upturn in pricing. Meanwhile Jet arbs East-West are much more favourable. Further weakness in SG10 E/W and in NWE Jet CIF diffs likely.
14 AUG 26 - 08:08
Atlantic Basin looks to hold naphtha, giving support to MOPJ premiums
Marginal Med arbs and a shut Rotterdam–Chiba keep naphtha in the Atlantic Basin, with Brazil the stronger outlet and MOPJ risk building into Q4.
14 AUG 26 - 07:22