Brent futures surged to $87.70 last week, only to encounter resistance and profit-taking flows, settling this week at a sturdy $85-86/bbl range. Macroeconomic factors and persistent supply concerns are pivotal in sustaining these levels.

Refinery margins face widespread pressure across regions, while the gasoil market sentiment remains subdued amidst spring demand and increased freight, notably from the Middle East to Europe and Asia. Yet, amidst these challenges, there's a glimmer of hope for correction as demand dynamics evolve.

Looking to the more macro side of things, James Brodie discusses the sudden dovish stance adopted by central banks and SNB's surprising 25bp cut to the cautious rhetoric of the Fed and Bank of England regarding bond/OIS curves.

In our 'Googling Oil' segment, Greg, Vincent, Martha, and James explore intriguing headlines, including the milestone of the USA surpassing all nations in oil and gas production and Ukraine's strategic use of long-range strike drones against Russia's oil industry.

Vincent presents a compelling trade idea: shorting the summer crack, which Greg dubbed 'The Widow Maker.' Tune in as Greg, Martha, Vincent and James dissect, analyse, and forecast the fascinating developments in the oil market landscape.

If you would like to connect with any of our hosts on LinkedIn, please click on the hyperlinks below:
Greg Newman: https://www.linkedin.com/in/oilderivatives/
Vincent Wu: https://www.linkedin.com/in/vincent-wu-099816125/
Martha Dowding: https://www.linkedin.com/in/martha-dowding-ab84801a6/
James Brodie: https://www.linkedin.com/in/jamesbrodiecmt/

Chapters for this episode are:
0:00 Welcome 
0:57 This Week in Trading
6:47 Macro market news 
10:41 Dated Brent
12:56 Refinery margins
18:08 Gasoline
22:06 "Googling oil:" world oil news 
28:25 Trade idea of the week 
32:14 Brent spreads
34:13 Poll results and outro