The Only Way Out Is Through | Weekly Roundup

Can anything stop oil's run when the SPR is already drained?

This week, we dig into why the oil squeeze is becoming structural, not just a Strait of Hormuz story.

We explore the oil curve trade, the Brent–WTI gap, tightening financial conditions, and crypto's slow bottoming process. Enjoy!

TIMESTAMPS:

00:00 Markets In Turmoil, Round Two

01:25 Bonds Rip As The Nasdaq Drops 3%

02:29 Oil And Bonds Break Up

05:23 Why Nobody Wants The Oil Bull Case

09:45 Reading The Oil Curve

12:38 Ads (Fidelity, DAS London)

13:50 Brent–WTI Gap Hits Wartime Highs

16:33 Diesel, Cracks & Maxed-Out Refineries