Asks for the current picture in energy given mixed signals of tanker movement and new infrastructure attacks.
Shery
Rebecca Babin
Market is grappling with push-pull from easing rhetoric/flows versus ongoing infrastructure attacks; focused on volume of shut-in production and duration.
Asks how traders gauge real negotiations versus posturing and what physical data they watch.
Shery
Rebecca Babin
Extremely difficult to gauge diplomacy; traders focus on flows, shut-in production levels (now ~7M bbl), and inventory trajectories, not rhetoric.
Asks about the importance of SPR release flow rate and the risk of borrowing from future supply.
Haidi
Rebecca Babin
Flow rate is key (max ~1.4-1.5M bpd); SPR release lifts back end of curve as barrels must be replaced, providing only temporary relief.
Asks about alternatives like Russian sanctions easing or China SPR release.
Haidi
Rebecca Babin
Russian waiver helps fill gap now; China is conserving supplies, not releasing, and will likely be a buyer post-crisis to replenish.