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 15, 2026 at 12:07 AM
Please find attached our mid-Trump-Xi note, that attempts to cover the arc of the China energy challenge in the Age of Hormuz, mid-summit. History in the making. Hope you enjoy reading it as much as I enjoyed writing it. Paul Morelia, Michoacán, Mexico, 5/14/26
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By Paul Sankey
Published on May 10, 2026 at 2:01 PM
Greetings from Guadalajara, We attended family wedding. Quite the fiesta. I’ll give you a hint: this is the capital of Jalisco, the home of Tequila. ~ The past week was absolutely bewildering in global oil markets; the market seems to buy a peace narrative which we greatly struggle to believe in. As considered from the crisis start, we cannot see that the Iranian Revolutionary Guard will easily cede its sudden position of global super-power (especially …
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