The Big Five and the European Asset Play
A quiet reshaping of Europe’s refining map — driven less by margins, and more by opportunity.
Category: ‘Big Picture’ Regional Thoughts
Sanctioned Giants: OFAC’s Grip on Lukoil and Rosneft
New U.S. sanctions reshape the middle-distillate balance, forcing India, China, and Russia into divergent but equally tactical responses.
Contango Returns: Reading the Signals Behind 0.5%
After six years in backwardation, VLSFO slips into contango — reshaping blending margins, storage logic, and the sulphur equation.
From Fujairah to Malaysia: Diverging Stories in the Indian Ocean
Dar Blend’s quiet re-entry meets Venezuelan SRFO’s long route east — two ends of the same market tension.
Platts MOC Eligibility
As restrictions tighten, the line between legitimate barrels and re-BL plays grows ever thinner.
CIF NWE
Europe’s January cutoff could open the door for Iraqi SRFO — if the market learns to see it for what it really is.
If It’s Good for the Goose, It’s Good for the Gander
From Iran’s shadow fleets to Russia’s new playbook, ship managers are becoming the quiet architects of sanctioned oil flows.
A Few Things Out of the Ordinary
From Azeri’s return to India to shifting distillate flows — crude trade is anything but business as usual.