Latest
-

Singapore Crack Spreads Reflect Iran’s Leverage Over Hormuz Oil Flows
Politicians sell spin; physical commodity markets deliver reality When political rhetoric and phantom ships crash into physical commodity supply balances, things can get interesting. The rhetoric usually loses. First, the political claim: oil transits through the Strait of Hormuz are being substantially restored through concerted U.S. action. That would be awesome—if we saw more signs…



