Podcast: The Houthis hit Yanbu. Where does crude go now?
Houthi attacks on Saudi vessels loading at Yanbu leave seven million barrels of crude searching for a route. Felipe Elink-Schuurman, James Noel-Beswick and Jay Maroo on Suezmax freight, why diesel still looks undervalued, and the crude spreads with room to run.
Key Takeaways:
▸ Yanbu crude reroutes north or round the Cape, a month slower and far pricier.
▸ Diesel still looks undervalued with Russia, the Mideast and Yanbu supply all at risk.
▸ Suezmax and TD3c are high conviction trades this week.
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