Asks about potential impact of Jones Act waiver on oil and product markets.
Host
Dan Struyven
Jones Act relaxation could provide modest relief for fuel prices, especially on US East Coast, estimated at roughly $0.10 per gallon.
Asks for hierarchy of concerns in oil markets, highlighting WTI/Brent forward curve, regional variations like Oman crude, and refined product bottlenecks.
Host
Dan Struyven
Ranks market tightness: 1) Asian refined products (jet fuel, fuel oil), 2) Middle Eastern crude grades (Oman, Dubai), 3) Western benchmarks (WTI, Brent) with more limited tightness.
Asks about danger to oil prices from attacks on Iranian infrastructure and upstream facilities becoming legitimate targets.
Host
Dan Struyven
Identifies two major upside risks: 1) lengthy Strait of Hormuz disruption, 2) persistent damage to energy infrastructure. Notes this is largest oil supply shock in history.