Insights
In-depth analysis of Americas oil markets — spreads, supply routes, producer dynamics, and policy. Written for readers who already know the basics.
Trump's 'Genius' Blockade Is Working and Failing at the Same Time
Three weeks into Trump's naval blockade of Iran, two completely different stories are being told about whether it's working — and both have receipts. Untangling the measurement problem is more useful than picking a side.
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Why the WTI–Brent Spread Matters for Americas Exports
The WTI–Brent price gap is more than a trader's curiosity — it governs how much American crude actually leaves the Gulf Coast.
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The Panama Canal Bottleneck: What Tanker Traffic Tells Us About Oil Flows
Drought-driven transit restrictions at the Panama Canal have quietly reshaped Pacific-Atlantic crude and product arbitrage. Here's what the numbers actually say.
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Guyana: The Fastest-Growing Producer You're Not Watching
In under a decade, Guyana has gone from zero barrels to over 600,000 bpd. By 2030 it may be bigger than Venezuela. Here's why that matters.
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US SPR at 78 Million Barrels — How Low Is Too Low?
The Strategic Petroleum Reserve is roughly half its 2010 peak. At what level does it stop being a credible supply-shock buffer?
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The Canadian Heavy Crude Discount: Structural or Transient?
Western Canadian Select trades at a persistent discount to WTI. TMX was supposed to close it. Here's why the spread hasn't collapsed.
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