By Paul Sankey
Published on May 31, 2026 at 7:05 PM
Amazing to watch May 2026 pass so fast, and Hormuz still all-but shut. Everybody points to June as the month in which things turn ugly in terms of tank bottoms, and price going exponentially higher seeking to destroy demand. But bottom line, prices are lower, and everyone is still merrily flying around. In this note we re-visit our JetFuel thesis – as we witness record flights, what’s the problem? We conclude that the key answer …
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By Paul Sankey
Published on May 3, 2026 at 4:02 PM
Greetings, Refiners are running at max capacity, and oil prices are finding a Hormuz blockage hierarchy. Excess profits are accruing to oil producers, US refiners, and shipping companies. Front page of USA Today, Daily Mail, nothing on Hormuz. I scrolled all the way down on the NY Post – not one story on Hormuz today. While the oil analysts get frantic, the NASDAQ hit a record high, and the President’s most important advisor, Mr Market, …
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By Paul Sankey
Published on October 16, 2025 at 10:01 AM
Today Strategy Session at 12pm: Doug Garber, former major hedge fund Portfolio Manager (recently attended Barcap, Jeffries energy conferences, Goldman Tech) and founder of PitchthePM.com. Doug works a lot on process, in portfolio management and research, and if you have up-and-comer analysts on your team, you might want to encourage them to listen. A recording will be distributed. https://sankeyresearch.com/conference/sankey-strategy-session-doug-garber-interest-form/ ~ Cooking oil! You can imagine those of us in a niche segment of Wall Street …
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