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Episode 99: Brent flips to contango. Is the crude crisis over?
Neil Crosby, June Goh and Abhishek Kumar unpack Brent's shock flip into contango as Hormuz reopens and AG crude floods back. Dubai swaps at minus one, the "Asian crude buffet," a potential Russian diesel ban, and why jet looks weaker than diesel into summer.
Chapters:
(01:23) Brent flips to contango: the crude sell-off
Brent and Dubai flip into contango as Hormuz reopens. Traders extrapolate supply forward, but is it fair value?
(09:15) The Asian crude buffet
Dubai swaps at minus one, Murban dives $10, Iranian waiver lands. Why nobody wants the risk yet.
(16:57) OPEC, UAE and refinery runs…
The skinny
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