Building arbs by hand. Chasing data. Screen hopping like a pony at a county fair. You're smart. But your tools aren't. Meet Leonidas AI, your desk's decision-making engine: spartacommodities.com/leonid… #LeonidasAI #oott #oiltrading #commoditytrading #AI

WTI flat prices are at their highest since early May, and put liquidity could dry up into the holidays. ▸ Short-option hedgers may have to cover into a low-stock market. ▸ Nikolas Plonski sees the risk skewed to the upside. Read the full WTI analysis here: spartacommodities.com/market… #oilmarkets #crudeoil

Oman’s differential to Dubai has swung from $14 a barrel to a low of $3.70 this month. The prompt availability of crudes is pressuring the AG market. @JuneGoh_Sparta walks through what the spot market is saying about Gulf supply on Trade with Conviction. Full episode: spartacommodities.com/market… Try Leonidas AI: spartacommodities.com/leonid…?… #oott #oilmarkets #crudeoil #oiltrading #commoditytrading

A dozen open tabs of voyage economics per fixture? Leonidas AI does the same work in under a minute. It gives you multi-voyage TCEs up to 12 months forward, chained voyage by voyage and built on your ship’s fuel consumption, capacity and port costs, with live freight and bunker rates. Live arb margins show where vessel demand is heading. Position your ship where the market is going. Try Leonidas AI: spartacommodities.com/leonid… #oott #oiltrading #commoditytrading #energyindustry

US blenders are keeping butane at home, and the Asian premium over propane has widened to $80 per metric ton. Winter gasoline demand is pulling butane inland just as Middle East LPG supply stays short. Jorge Molinero explains why butane looks tighter than propane on Trade with Conviction. Full episode: spartacommodities.com/market… Try Leonidas AI: spartacommodities.com/leonid… #oott #oiltrading #lpg #commoditytrading #energyindustry

Usable strategic reserves fall to about 400 mb if Hormuz halts again. Japan and Korea hold just over 50 days of cover, and USGC cargoes take about 50 days to arrive. Read the full deep dive here, by Aaron Kildow: spartacommodities.com/market… #oilmarkets #oott

Das crude carries 2.4% sulphur in the long residue. Forcados is at 0.45%. @JuneGoh_Sparta on why Dangote is unlikely to keep buying AG crude at this pace. Read the full crude analysis here: spartacommodities.com/market… #oilmarkets #oott #crudeoil

Iran is hitting more tankers, and the attacks are changing shape. Traders are asking whether Washington waits for November 3. Iran has shifted from projectiles to engine room hits, but freight is reacting to dark fleet sanctions relief. @JuneGoh_Sparta, Jorge Molinero and @SpartaFreight break down: ▸ Why Iran’s cash squeeze may be driving the attacks ▸ AG crude discounts: is the crude flow really back? ▸ Whether the TD3C sell-off is overdone ▸ How China's product exports are affecting Asian refining margins ▸ Why LPG is the next Sparta release Listen or watch now: spartacommodities.com/market… #oott #oilmarkets #crudeoil #freight #commoditytrading

Basin arb to Cushing is open again, and it could pull barrels away from Houston. Cushing stocks sit just 3.6MB below the top of their five-year range. Aaron Kildow on what it means for WTI spreads. Read the full crude analysis here: spartacommodities.com/market… #oilmarkets #oott #crudeoil

Crude and product spreads are sending mixed signals. ▸ Crude spreads have strengthened on Saudi-Houthi escalation and Hormuz risk. ▸ Diesel and gasoline have weakened since September on SPR releases and amid bleaker demand prospects. Jay Maroo's view is that something has to give. Crude structure could weaken in the very short term and freight is also one to watch. The October Monthly EMEA Chart Pack is out now: spartacommodities.com/market… #oilmarkets #crudeoil #oiltrading #oott #energyindustry

Oman’s premium over Dubai has fallen to near $4 a barrel, its lowest since late July. It topped $60 early in the conflict. “Gulf crude oil market has been pressured” by multiple cargoes available at relatively short notice, said @JuneGoh_Sparta, Senior Oil Analyst at Sparta, in @Bloomberg. Futures are still pricing in tighter supply further down the road, and that gap is what traders should watch. Read the full article here: bloomberg.com/news/articles/… #oott #oilmarkets #crudeoil #energyindustry

ARA E10 blend margins have dropped to -$48.75/mt. Gasoline is the weakest part of the complex right now. The EBOB Nov/Dec spread is at its lowest since mid-May, and Gas-Nap has collapsed on the finished grade. Freight is the swing factor for who lands cheapest. ▸ Houston remains the cheapest landed source into LATAM as TC14 demand softens. ▸ ARA is pushing deeper into Africa while AG supply stays out of the Atlantic. ▸ Singapore is losing ground as blend costs rise against weak finished prices. Read the full gasoline analysis here, by Nikolas Plonski: spartacommodities.com/market… #oilmarkets #oiltrading #commoditytrading #oott

Refining margins have flipped back to positive. Murban and Oman medium margins into the Far East moved to +$10/bbl as crude FOBs and VLCC rates fell. For traders, the question is whether light product cracks will continue to fall with more exports out of China. @JuneGoh_Sparta on the shift. Read the full refining margin analysis here: spartacommodities.com/market… #oilmarkets #oott #commoditytrading

Far East VLCC demand has flipped to the Gulf. Atlantic crude is now overvalued. On 5 October WTI into the Far East was the most competitive it had been since mid-September. Within a fortnight the same RBI swung almost $15/bbl to +$10.92/bbl. Not a single USGC VLCC fixture was reported last week. ▸ Arab Light into the Far East sits at -$9.76/bbl. Over 20 VLCC cargoes left the Gulf region last week. ▸ USGC November forward WTI RBI at +$16.64/bbl leaves no implied vessel demand deep into Q4. ▸ Watch the sanctions headlines. They hit November TD3c paper, but the reaction is overblown. Read the full VLCC analysis here: spartacommodities.com/market… #oott #oilmarkets #crudeoil #oiltrading #commoditytrading

25 million barrels of SPR sour crude flood the market by January. Returns then peak at 6.3 million barrels a month by Q3 2027. NWE stays the tightest import market, primed to rally if US-Iran action resumes. ▸ WTI remains the cheapest of the BFOETM grade even after North Sea FOB diffs eased. ▸ Mars November basis swaps doubled to $3.15/bbl over TI in a week. Hurricane Isaias shut in 7.2 million barrels of GOM output, and medium sour cover is thin. ▸ 24 million barrels of SPR sour crude land in commercial hands by December, plus 6 million in January. Then the return schedule flips hard. Read the full crude analysis from Aaron Kildow: spartacommodities.com/market… #oilmarkets #oott #commoditytrading #crude