Latest / Commodity Insider Daily Brief
Hormuz transits hit a two-month low even as Middle East crude exports hold — the binding constraint is now delivered cost, not supply
Kpler's physical counts show the chokepoint thinning while alternative routes carry the barrels; separately, Europe's new SAF data (80% UCO, 85% imported, 61% Chinese origin) and Brussels' tightening UCO import rule sharpen the structural case for — but do not guarantee — a West African feedstock channel.
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.