Oil & Iran War Context Weekly (W22)

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Happy Friday, Oil Watchers!Every week, I summarize and analyze developments in flat crude prices, calendar spreads, high-frequency inventories, refined products, and positioning data, as well as a taste of the themes I’ve been thinking about or following closely.Also a reminder that paid subscribers can access the latest weekly update of the detailed 40-page PDF Market Positioning Data Deck at the bottom of this report.Hey Subscribers, I will be in New York City between June 9th and June 11th for the StoneX Natural Resources Summit and would love to meet up! Please complete this survey if you are interested.On the latest episode of the Oil Ground Up podcast, I was joined by Bob McNally, founder and president of Rapidan Energy Group, former White House energy advisor to President George W Bush, and the author of Crude Volatility: The History and The Future of Boom-Bust Oil Prices. Our conversation focused on the history of the market’s view of the Hormuz risk, the latest status of negotiations between Washington and Tehran, and the longer-term consequences to the geopolitics oil the oil market.For more FREE oil context, check out my appearances on CNBC Asia (video), TVO’s The Rundown (video), BNN Bloomberg (video), MTSLive (video, 4:08-4:33) as well as in the Atlantic (print).Become a paid subscriber today to read the full Oil Context Weekly report every Friday and join me in my hunt for ever-deeper oil market context.If you’re already subscribed and/or appreciate the free chart and summary, hitting the LIKE button is one of the best ways to support my ongoing research.Summa…