Our View

A Serious Recession Is Coming

Bloomberg's Javier Blas believes the oil industry has little to fear from the coming recession. He is wrong. Read more here.

Yes, We Have No Diesel Fuel

The graph shows the spread between cash distillate and the fifth futures contract in New York Harbor. The huge jump recently, a record, reflects the extremely tight diesel market. See the May 9 Notes at the Margin.

For Want of a Drop (May 16, 2022) -- The world will plunge into a recession soon—and all for the want of a drop of diesel fuel.

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