Matt Smith
speaker
87 appearances
1 recordings
1 series
first heard Jul 2026
last heard 21 Jul
Matt Smith’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
And that has largely offset the production loss we've seen from the Middle East.
But what that has meant is that the pain has essentially been transferred from the oil price across to the products.
And so when you talk about gasoline at $4 a gallon on the national average, we see diesel at $5, breaking above $5.
And that's going to be really pushing higher because in barrel terms, it's about $170 a barrel for a barrel of diesel.
And so that's where that pain is coming through is in the products because we're not seeing those produced.
Whereas the crude market is somewhat remains somewhat in balance because of this rerouting and because this lack of refining.
One huge bias that it holds is that even if you are bullish on oil markets, you're not going to go and buy a paper barrel because you could have President Trump tweet something in five minutes time and oil prices could drop by 10-15%.
So I'm not saying prices are manipulated per se, but they are definitely under the influence here of things other than fundamentals.
And so because of that, you've got some that are simply not getting involved in the oil trade.
And that has been happening for a good number of months here.
There's a lack of liquidity there.
The flip side of that, that's why I point to the diesel market again, is because the US administration is fixated on the oil price, super fixated on prices at the pump.
It's not necessarily paying that much attention or putting that much emphasis at all on diesel prices.
And so that's perhaps the least influenced market out of all of the petroleum complex.
ripping here.
Well, we could just continue in the status quo, right?
In that there's this back and forth between the US and Iran in terms of the attacking of tankers by Iran, the attacking of infrastructure by the US.
And then in the background, there is talks and whispers of diplomacy, which helps keep oil prices in check here, which in turn helps keep prices of the pump in check.
But you know,
When we came into this thing, there was expectation you can't close the Strait of Hormuz for two, three weeks.
Showing 41–60 of 87 · page 3 of 5
← Previous
Next →