Research hub · Oil & Gas

Oil & Gas desk

Crude, cracks, SPR, Hormuz transits, CFTC positioning, RINs, gas, freight, and the listed beta — Bloomberg snapshot, no auto-refresh. Hit the button when you want a new print.

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How to read it. Cracks and diesel are the refining P&L (Calumet’s conventional book). SPR / IEA government stocks are the buffer — US SPR is the high-frequency series; Pacific government crude is the Japan/Korea/Australia pot. Official China SPR is not on the tape; port inventories are the proxy. SOHO and D4/D6 are the renewable book. Freight (BDTI) flags barrels actually moving or war-risk ton-miles. Weekly EIA inventory changes are shown as kbbl, not as percentages. Combined crude draw = EIA commercial crude Δ + SPR 5-day net (Gavin’s “total crude draw”). Hormuz figures are Bloomberg vessel-crossing counts, not a modelled mb/d. Units: cracks and crude in $/bbl; RBOB/ULSD in ¢/gal (×0.42 → $/bbl); IEA stocks in million barrels; US EIA stocks scaled from kbbl. API weekly is not entitled on this Bloomberg. Dubai / TD3C still missing.