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Episode 84: South Pars hit. Escalation was fast. What happens to oil from here?
The war in the Middle East escalated again. Israel struck South Pars. Iran responded with attacks on Ras Laffan and Saudi refineries. And as this episode was recorded, Reuters confirmed Yambu had stopped loading oil.
Flat price pushed above $115. WTI collapsed to a $20 discount to Brent as export ban fears gripped the market. TC14 and TC15 have more than doubled since the conflict started. Jet fuel in Europe hit $1,700–$1,800 a tonne, and SAS has already started cancelling routes.
Chapters:
(01:00) Headlines: South Pars, Ras Laffan and the escalation spiral Neil sets the scene. Israel hits…
The skinny
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