Episode 90: The market is exhausted. The crisis is not.

Trade with Conviction · Apr 24, 2026 · 37m

Felipe Elink-Schuurman and June Goh cover the FT Commodities conference, where major trading house CEOs signalled no short-term resolution to Hormuz. June runs through crude premium collapse, EU sanctions, and a bullish fuel oil case into Q3.

Chapters:

(01:04) FT Conference: No deal in sight, Russia backing Iran CEOs of Trafigura, Vitol, Mercuria and Gunvor: no short-term resolution. Mercuria's Dunand: Russia is backing Iran.

(10:20) Headlines: Hormuz stays shut and airlines start cancelling flights Ceasefire extended but Hormuz stays shut. IRGC firing on vessels. Lufthansa cancels 20,000…