Episode 104: Brent whipsaws and USGC 3:2:1 margins explode. The diesel crisis behind it

June Goh hosts Abhishek Kumar and Jorge Molinero as Brent swings from $100 to $85 to $93 in a week. They cover Houthi attacks on Saudi infrastructure, Suez rerouting costs, a tightening diesel market, and diverging crude premiums across Hormuz and Red Sea choke points.

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Chapters: 

(00:35) Oil's Wild Week: Houthi Attacks and the Yanbu Reroute Brent swung from $100 to $85 to $93 in days. Abhishek breaks down Jizan refinery strikes and Suez rerouting costs.

(07:22) Rhine Crisis and Record-Tight US Barrels Kaub gauge nears critical levels as US crude and gasoline stocks hit multi-year lows despite record refinery runs.

(09:42) Gasoline and Naphtha: East Beats West East-West spread flips as European E10 blending reopens and the TAR arb into PAD1 looks set to widen.

(14:10) Diesel Squeeze and the Freight Spike Behind It TC14 rates jump on tonne mile demand as Jazan's outage and a possible Russian export ban extension tighten Europe further.

(20:55) Crude Flows Rewrite Around Two Choke Points Murban and Melbourne premiums diverge as Asian refiners route around both Hormuz and the Red Sea.

(24:15) Fuel Oil: HSFO Eases, VLSFO Stays Tight August HSFO cracks pull back from highs while VLSFO cracks sit near $23 on limited medium crude supply.