Europe
Europe Just Used a Third of Its Emergency Oil Reserves. There Is No Second Shot.
The IEA used a third of its emergency reserves in March. Six European countries fell below the 90-day floor. Islamabad collapsed. There is no second release at this scale.
Americas
Brent Crashed 16% Overnight. Now the Hard Part Begins.
Brent crude plunged 16% after Trump's 14-day Iran ceasefire — but $93 oil and a navy-controlled Strait mean the war premium isn't gone yet. Full market analysis.
Commodities
Brent Just Posted Its Steepest Monthly Gain on Record. Trump Said He Wants to Take Iran’s Oil.
Brent surged 55% in March, the largest monthly gain on record. Trump told the FT he wants to seize Kharg Island. WTI crossed $100. The war just changed shape.
Commodities
Everyone Is Watching the Oil Price. The One That Matters Is Printed on a Bag of Urea.
Urea jumped from $490 to $700. A third of global fertiliser trade transits Hormuz. There are no strategic reserves. It is planting season. The supply is not arriving.
Commodities
Iran Just Turned the Strait of Hormuz Into a Toll Road. The Fee Is $2 Million Per Ship.
Iran is charging commercial vessels up to $2 million per voyage to transit Hormuz. There is no tariff schedule. The price is whatever Tehran says it is today.
Europe
The Paper Market Says $103. The Physical Market Stopped Agreeing Two Weeks Ago.
Brent at $103. WTI at $96. Physical Dubai crude is trading $38 above its paper price. One tanker crossed Hormuz on Monday. The pre-war average was 24 per day.
Commodities
Vietnam Has 20 Days of Fuel Left. The Philippines Sources 96% of Its Oil from the Gulf. The Strait Is Still Closed.
Vietnam has under 20 days of fuel reserves. The Philippines sources 96% of its oil from the Gulf. Brent is above $100 and the Strait is still closed. Here's the regional damage in numbers.
Commodities
Brent Closed Above $100 for the First Time Since August 2022.
Brent settled at $100.46 on Thursday, its first close above $100 since August 2022. Iran's new supreme leader vowed to keep Hormuz closed. The Fed is frozen. Here's what actually matters.
Commodities
The IEA Just Released More Oil Than Ever Before. The Market Didn’t Care.
The IEA released a record 400 million barrels of emergency oil reserves on Wednesday. Brent still closed above $91. WTI settled up over 4%.
Americas
Oil Touched $120 and Crashed to $86 in the Same Session. Here’s What Actually Changed.
Brent hit $119.50 and crashed to $86 in the same session. Trump said the war is "very complete." Iran said that's nonsense. Here's what the curve is pricing.
Europe
US Gasoline Just Posted Its Biggest Weekly Jump Since Russia Invaded Ukraine. Diesel Is Worse.
US gasoline hit $3.41, up 14% in a week. Diesel surged 15.3%. The biggest weekly pump price jump since Russia invaded Ukraine. And the strait is still closed.
