Episode 55: U.S.-India tariffs and Ukraine strikes: What does this mean for oil prices?

This week’s Sparta Market Outlook Podcast dives into a storm of oil market moves. Host Rachel Williams and the team break down U.S.-India tariff shocks, Ukraine’s strikes on Russian refineries, and looming Fed rate cuts — while tracking North Sea DFL lows, tight European stocks, and a possible rebound in 0.5% fuel oil. From Dubai’s steady strength to shifting distillate flows, the episode delivers actionable insights for traders navigating a deceptively calm yet volatile market.

Chapters:

(02:10) Geopolitical Headline Rundown

Neil breaks down the latest on U.S.-India tariff defiance, Ukraine’s refinery attacks, and their ripple effects on global oil markets.

(08:35) Dangote Drama and Fuel Oil Outlook

Hoa unpacks the chaotic signals from Dangote’s refinery and why 0.5% fuel oil might be shifting from bearish to neutral.

(15:15) North Sea DFL Collapse and Crude Signals

Neil and June analyze the North Sea’s weakening DFL, cheap Brent landings in Asia, and the persistent strength of Dubai.

(20:47) Platts Murban Methodology Shake-Up

June explains Platts’ upcoming changes to the Murban assessment and their potential to reshape sour crude dynamics.

(22:27) Distillate Dynamics: East-West Shifts

Neil highlights the widening East-West distillate spread and why Europe’s bull case is gaining traction.

(27:31) Quick-Fire Market Calls

The team shares high-conviction trades, from naphtha strength to distillate buys, while keeping an eye on APEC.