Felipe Elink Schuurman, Abhishek Kumar, Michael Ryan and Jay Maroo cover the Iran-US escalation and Kirishi refinery strike, then break down a diesel market pulling barrels from Singapore to Houston, a gasoline barge spike to $2.90, TC14 freight jumping 45 points, and three fresh crude trade ideas.
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Chapters:
(00:39) Geopolitics: Iran strikes back, Russia's refineries burn US hits Iran, Iran strikes Saudi VLCCs, Kirishi refinery shut, Russia now imports diesel, gasoline and jet.
(04:55) Middle distillates: Rotterdam pulls barrels from everywhere Diesel ARBs open from Yanbu to Singapore, a rare Korean MR heads to Rotterdam as Europe scrambles.
(17:25) Jet and freight: TC14 jumps 45 points in a day Jet underperforms diesel on rising Asian exports while owners chase the diesel ARB, spiking US Gulf freight.
(19:46) Gasoline: barges spike to 290, Houston flips cheapest European barges surge after a shaky start, Houston beats Singapore to West Coast Mexico for the first time.
(35:00) Crude and trade ideas: Mars over WTI, Dubai backwardation Dubai tightness signals supply risk, not demand, Jay's three trades bet on east-west and sweet-sour spreads.
