Brent Calendar Spread Halves as Hormuz Traffic Expected
BRENT’s six-month calendar spread has almost halved as prices for nearby futures contracts fall much faster than for later-dated ones. The inflation-adjusted spread has averaged just under $11 per barrel so far in June (96th percentile for all months since 2010) down from a near-record of almost $20 in April. Traders increasingly expect significant tanker traffic will resume through the Strait of Hormuz soon to arrest the depletion of crude and fuel inventories before they become critically low:
Jet Fuel Prices Slip as Crude Falls Amid Hormuz Closure
JET FUEL prices are retreating despite the continued closure of the Strait of Hormuz as crude prices fall in response to expectations of an early resumption of tanker traffic and refiners prioritise production of jet and other middle distillates at...
UK Wind Hits Record, Cuts Gas Demand
UNITED KINGDOM generated a seasonal record 26 billion kilowatt-hours from wind farms in the first three months of 2026 surpassing the previous record of 24 billion kWh in the same period in 2024. The jump in wind output (+6 billion...
Oil Bears Bet Hormuz Shipping Resumes Soon
Oil bears expect regular Hormuz tanker traffic to resume soon Investors sold Brent crude again last week anticipating an early re-opening of the Strait of Hormuz amid continued negotiations between the United States and Iran and an intensification of military activity...
UK Power Mix Shifts From Coal to Renewables Since 1950
U.K. ELECTRICITY generation by source since 1950 – showing the rise and fall of coal and fuel oil: https://t.co/H2IcE9zyMa
UK Diesel Stocks Hit 20‑year Low, Fueling Price Surge
U.K. DIESEL AND GASOIL inventories fell to the lowest seasonal level for more than two decades at the end of March. Stocks were down by more than 250,000 tonnes (17%) compared with the same period a year ago, which explains...
U.S. Surpasses Qatar, Australia to Lead Global LNG Exports
GLOBAL LNG exports increased by 22 million tonnes (5%) in 2025 compared with 2024, according to the latest annual report published by the International Group of Liquefied Natural Gas Importers (GIIGNL). Nearly all the growth came from the United States....
France Holds Oil Reserves Pending War Duration Clarity
FRANCE says cannot release more oil reserves until there is greater clarity about the likely duration of the war: https://t.co/mWxLU2DWvM
Hormuz Closure Triggers 2026 Oil Shock
[CHARTBOOK] Strait of Hormuz closure and the oil shock of 2026 - slides for a presentation to the British Institute of Energy Economics: https://t.co/yL3UeeaHjW https://t.co/HWXdNxr2vB
NextEra Eyes Virginia's Rapid Power Growth, Data‑center Hub
U.S. ELECTRICITY consumption growth by state between 2010 and 2023. In acquiring Dominion Energy, NextEra will be expanding into Virginia, where consumption has been growing almost twice as fast as in NextEra’s main home service territory of Florida. Dominion’s service...
World Policies Mobilize Amid Hormuz Strait Oil Shock
GLOBAL policy responses to the oil and gas shock caused by the closure of the Hormuz Strait: https://t.co/NwVf7oXBGg
CNN Claims Western Forces Likely Sank Russian Cargo Ship
RUSSIAN CARGO vessel sunk off the coast of Spain in 2024 was likely attacked by western military according to CNN: https://t.co/6AWIbuNrqH
Oil Funds Build Shorts Betting Hormuz Reopening Cuts Prices
Oil funds boost short positions anticipating re-opening of Strait Investors made few significant changes to their aggregate position across crude oil and refined fuels for the third week running as the ceasefire between the United States and Iran remained in place...
U.S. Diesel Stocks Hit 20-Year Low Amid Hormuz Closure
U.S. DISTILLATE STOCKS have fallen to the lowest for the time of year for more two decades as closure of the Strait of Hormuz creates a worldwide shortage of diesel and similar fuels. Since the war began, distillate inventories have...
Fund Managers Boost European Gas Bets Amid Storage Crunch
INVESTMENT MANAGERS have purchased European gas futures and options in the benchmark Dutch TTF contract in both of the two most recent weeks. Fund managers purchased the equivalent of 28 terawatt hours over the two weeks ending on May 1,...