Oil not dead

Oil not dead

Share this post

Oil not dead
Oil not dead
Oil World Tour - Week 37

Oil World Tour - Week 37

A regional view of physical markets

Sep 13, 2024
∙ Paid
12

Share this post

Oil not dead
Oil not dead
Oil World Tour - Week 37
5
Share

This week we are going to try something different, a household trademark: a rundown of physical activity in the oil markets by region + a summary of relevant events in products and of course freight.

Lastly, I need to test if there is enough demand for a product like this (you will be my guinea pigs) since I believe there is an information gap between Big Oil and retail, I’m trying to bridge that asymmetry. We’ll see how it goes.

Now with the housekeeping done, let’s dive in

Oil Physical

Middle East

All the action is concentrated in the Gulf, since the reduction of the OSPs Chinese interest sparkled, Allocations for October are healthy, providing more term cargoes to Chinese State-owned refiners, about 3Mnbbl more than September that was average.

Source: ICE

The Dubai/Brent spread, that measures the viability between shipping a cargo from the Middle East or crudes from far afield in the Atlantic, was collapsing in the early days of the week, but spot activity in Iraq and UAE were quick to react and pushed down premiums to maintain the status quo. Qatar is tendering some condensate cargos for November, those should clear well since they are naphtha rich yields, and Naphtha in Asia is pretty much the only game in town.

FOB Prices Assessment for Gulf selected grades. Platts

On a weekly basis, exports from the Middle East are somewhat stable

Crude Loadings in Kbd. Kpler shiptracking

Thanks for reading Oil is dead! Subscribe for free to receive new posts and support my work.

This post is for paid subscribers

Already a paid subscriber? Sign in
© 2025 The Oil Bandit
Publisher Terms
Substack
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share