RUSSIAN OIL PREMIUMS SURGE, U.S. AND GULF EXPAND HORMUZ TRANSITS, AND TREASURY SECRETARY BESSENT HIGHLIGHTS DEFICIT AND FX PRESSURES đ
Russian Crude Premium Spike: Russian Urals crude premiums in India surged to 8 USD per barrel over Brentâup sharply from around 1 USD in August and reaching the highest level since Mayâdriven by tightening Middle East supplies and constrained Novorossiysk exports.
Strait of Hormuz Operations: The U.S. military and Gulf allies have expanded tanker escorts to include daytime transits through the Strait of Hormuz, aiming to improve shipping flows and alleviate geopolitical risk premiums.
Treasury & Fiscal Signals: U.S. Treasury Secretary Scott Bessent noted that addressing the federal deficit is a primary factor influencing 10-year Treasury bond yields, while commenting that nominal Treasury interventions successfully signaled support for Japanese monetary policies.
Asian Refiner Shift: Shifting energy routes and shrinking alternative barrels continue to strengthen Russia's pricing power across major Asian refining hubs.
$CL $BZ $NATGAS
Russian Crude Premium Spike: Russian Urals crude premiums in India surged to 8 USD per barrel over Brentâup sharply from around 1 USD in August and reaching the highest level since Mayâdriven by tightening Middle East supplies and constrained Novorossiysk exports.
Strait of Hormuz Operations: The U.S. military and Gulf allies have expanded tanker escorts to include daytime transits through the Strait of Hormuz, aiming to improve shipping flows and alleviate geopolitical risk premiums.
Treasury & Fiscal Signals: U.S. Treasury Secretary Scott Bessent noted that addressing the federal deficit is a primary factor influencing 10-year Treasury bond yields, while commenting that nominal Treasury interventions successfully signaled support for Japanese monetary policies.
Asian Refiner Shift: Shifting energy routes and shrinking alternative barrels continue to strengthen Russia's pricing power across major Asian refining hubs.
$CL $BZ $NATGAS
