Oil and product markets showed unexpected resilience in prior weeks thanks, in large part, to reduced crude demand from China. The system is now much tighter and its resilience could be tested, particularly when it comes to refined product markets, as we enter a new phase.<br>Oil markets expert Karim Fawaz joins hosts Hill Vaden and Sam Humphreys to discuss the evolving balances of global crude and refined products as vessel traffic through the Strait of Hormuz continues to be limited.<br>Learn more about S&amp;P Global Energy coverage at: https://www.spglobal.com/energy/en

Strait talk: Oil markets brace for new phase amid extended Hormuz tensions (Ep. 254)

EnergyCents

Alright, welcome back to EnergyCents, an S&P Global Energy podcast covering all topics on the intersection of energy and finance. This is your host, Hill Vaden, with your other host, Sam Humphries. Sam, how's it going? Good, thank you, Hill. World Cup's finished. Spain have won. World Cup's finished. And congratulations to England for finishing third. Our best result in eight... wait, I can't do math. 70 years? Something like that. 80 years? A long time.

So, we've just wrapped up a really interesting conversation with Karim Fawaz, who is a friend of the pod, and maybe one of the most recurring guests. I think he has got that title now. Let's keep it running. But he talks with us about oil markets and product markets here on July 20th. So, we're on the backside of a cease-to-cease fire, and oil flows out of the Strait of Hormuz or vulnerable, I guess. Yeah.

So, maybe give people some things to listen to before we hand it off to Karim, if you don't mind. Well, Karim has the, maybe, unenviable job of, you know, analyzing oil markets, and things have been very exciting this year. But I think one thing he sort of mentioned was the resilience that the market had to this conflict was maybe greater than we'd originally expected.

Even now, as we're going into the unceased, the ceased-to-fire, I can't get that right, you know, what we're kind of expecting. We're not quite in the position that we kind of feared, maybe earlier this year when this started. But it is really interesting, and so much of that is related to China and their response to what has been happening.

Strait talk: Oil markets brace for new phase amid extended Hormuz tensions (Ep. 254)

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Strait talk: Oil markets brace for new phase amid extended Hormuz tensions (Ep. 254)

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.