Joe Wiesenthal

Hello and welcome to another episode of the Odd Lots podcast.

I'm Joe Wiesenthal.

Tracy, it's April 9th, 9.05 a.m.

There's a ceasefire-ish.

It's sort of there has been something announced that's called a ceasefire.

There does not seem to actually have been much of a cessation of fire per se.

Maybe it's slowed down a little bit.

Some of the headlines this morning are about Israel continuing to strike hard in Lebanon.

Iran saying that, well, if there's no ceasefire in Lebanon, there's no ceasefire at all.

But, you know, overall, at least as of right now, you know, the market, et cetera, we saw that huge drop in oil Tuesday night.

You know, the market's still sort of buoyant, right?

Still sort of resilient.

Basically zero.

There were some headlines about how maybe even in the good case, they would let through 10 to 15, which is still sort of nothing compared to normal ship traffic.

So like nothing's back to normal.

I think many people feel intuitively the price should be higher.

And then, of course, there's the whole refined products situation, which is more extreme.

And a lot of the prices that feel really extreme in general have happened where we see it in East Asia, whether it's like

Singapore jet fuel, et cetera, or a lot of the headlines that you see about extreme rationing come from East Asia.

I forget which country was.