By Paul Sankey
Published on September 14, 2025 at 7:35 PM
Refining margins are doing well as we enter the bearish period for oil prices, with Russian refining and sanctions impact visible in Middle East oil prices vs Atlantic Basin (Brent-Dubai spread) and tanker rates (soaring). Phone a friend… I asked shipping guru (former Morgan Stanley #1 ranked tanker and oilfield service analyst) Ole Slorer why tanker rates are soaring? “OPEC” he replied, keeping it simple. More barrels getting sucked into Asia, particularly, it would seem, …
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By Paul Sankey
Published on September 7, 2025 at 1:32 PM
Wet day, More bearish natgas weather. First week back in the book, post-Labor Day. The maelstrom of September/October markets upon us. There is a lot of thematic news, if that makes sense. Or we try to arrange the news, of which there is an abundance, into thematics. It’s like the Wacky Races. Source: Hanna-Barbera Idiosyncratic winners from Trump II, such as US small cap refining, Oxy & carbon capture, US rare earth players; AI players …
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By Paul Sankey
Published on August 1, 2025 at 4:56 PM
Client comment of the week: “I’ve received 20-25 notes from Neil Mehta (Goldman Sachs lead oil analyst) in the last 12 hours. It’s bananas”. TOTAL $TTE feedback Major Long Only: “Your math on TOTAL’s dividend yield is so bad, I want to cry”- But my point was correct! Huge cash yield, great company Major investor: You made great (positive) comments on Enterprise. Couldn’t agree more. Key here is estate management, you buy it for the …
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