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Oil Context Weekly (W40)
Crude prices pulled back on the recent recovery in Middle Eastern oil flows despite growing fears of an escalation in hostilities, while governments…
Oct 2
•
Rory Johnston
25
1
Diesel Danger Zone
Wars have hobbled many of the world’s largest diesel exporters, pushing the price of the industrial workhorse fuel into the stratosphere in search of…
Oct 1
•
Rory Johnston
44
1
September 2026
Oil Context Weekly (W39)
Crude ended roughly flat once again this week despite a more than $10/bbl intraweek range as the barrel ricocheted between diplomatic optimism and…
Sep 25
•
Rory Johnston
37
1
1
Global Oil Data Deck (September 2026)
Oil market supply deficit eased through July on the back of Middle Eastern production recovery though rising summer demand absorbed much of the…
Sep 25
•
Rory Johnston
38
3
Oil Context Weekly (W38)
Saudi Arabia’s East-West Pipeline entirely offline this week and will remain throttled for a month or more, pushing Riyadh headlong into the Hormuz dark…
Sep 18
•
Rory Johnston
29
The Beijing Swing, Part 2: Refined Products
Apparent Chinese petroleum product demand fell far more sharply than any activity decline in end-use sectors, with inventories likely buttressing…
Sep 14
•
Rory Johnston
41
3
Oil Context Weekly (W37)
Crude prices and term structure explode higher amidst Houthi Red Sea advance and strikes that have at least temporarily taken Saudi Arabia’s critical…
Sep 11
•
Rory Johnston
27
OPEC+ Data Deck (September 2026)
Saudi crude production collapsed by 1.9 MMbpd to the lowest monthly average pace since 1990, while Iraq continues to drive production higher through…
Sep 10
•
Rory Johnston
27
3
Oil Context Weekly (W36)
Oil prices pop, diesel crack spreads hit all-time highs, crude backwardation sharply steepened, and the US and Iran exchanged intensified strikes amidst…
Sep 4
•
Rory Johnston
35
5
North American Oil Data Deck (September 2026)
Upstream production growth continued to slow stateside while continental consumer demand for gasoline proved more price sensitive than industrial demand…
Sep 3
•
Rory Johnston
31
2
August 2026
Oil Context Weekly (W35)
Crude markets ease back as ECONOMIC D-DAY disappoints and Hormuz transits continue to grind higher, while road fuel scarcity worsens and Washington goes…
Aug 28
•
Rory Johnston
31
1
Oil Context Weekly (W34)
Crude prices continued to climb amidst diminished US-Iran diplomatic hopes, while sustained diesel crack spreads hit all-time highs as US distillate…
Aug 21
•
Rory Johnston
38
1
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