Daily Oil Fundamentals

All-in or TACO?

24 Jul 2026

All-in or TACO?

Wanton Iranian actions in the Persian Gulf, and now in the Red Sea, have fallen on fertile ground, with the US responding in kind. The Houthis' claim that they attacked two Saudi oil tankers has opened a new and alarming front in the conflict. The closure of the Bab el-Mandeb Strait would paralyse an alternative oil transportation route to the Far East, potentially disrupting almost 5 mbpd of Saudi crude that normally reaches its destinations without delays. Yesterday, Brent sliced through $100/bbl like a hot knife through butter.

Daily Oil Fundamentals

Bulls Raise with 2 Straits and 1 Canal

23 Jul 2026

Bulls Raise with 2 Straits and 1 Canal

Four vessels were attacked near Caspian Pipeline Consortium’s Black Sea terminal on July 17th, 19th, and 20th as it is not only the war in Iran where the gloves seem to be coming off. Ukraine has now upped the ante in its attacks on Russia and seems prepared to deliver collateral damage to not only internationally flagged vessels, but to the assets of Kazakhstan which has been forced to halt pipeline supplies through the CPC.

Daily Oil Fundamentals

Back to $70 or over $100?

22 Jul 2026

Back to $70 or over $100?

Upon the signing of this MOU, the Islamic Republic of Iran will make arrangements, using its best efforts, for the safe passage of commercial vessels with no charge for 60 days only, from the Persian Gulf to the Sea of Oman and vice versa. The traffic of commercial vessels will immediately start, and considering the need for removing the technical and military obstacles, and demining by the Islamic Republic of Iran will be instated within 30 days.

Insights

Daily Oil Fundamentals

All-in or TACO?

All-in or TACO?

Daily Oil Fundamentals

Bulls Raise with 2 Straits and 1 Canal

Bulls Raise with 2 Straits and 1 Canal

Daily Oil Fundamentals

Back to $70 or over $100?

Back to $70 or over $100?

PVM Data & Analytics