🚨 The physical oil market is about to vomit 60 million barrels of stranded crude directly onto an Asian refining complex that structurally lacks the tank space to absorb it.
Goldman and Morgan Stanley are politely slashing their $118 Brent targets back down to the $70s today, but the sell-side PDFs are actively burying the actual catastrophe.
Retail energy bulls spent the last three months aggressively bidding up paper contracts on geopolitical panic.
You thought the Strait of Hormuz bottleneck was a permanent structural bull case.
You didn't realize that while those VLCCs were anchored, China quietly bought up the entire available West African and South American float.
The commercial storage tanks in Shandong are effectively topped off.
Now the chokepoint is reopening and three dozen supertankers are firing up their engines to deliver crude that nobody actually needs for the current cycle.
Asian refiners are going to hold these stranded incoming cargoes hostage.
Physical differentials are going to absolutely crater as desperate traders dump oil at fire-sale discounts just to avoid punitive floating storage fees.
This isn't a simple supply normalization or a benign geopolitical relief rally.
It is a synchronized physical liquidation event.
If you are still holding long-dated calls hoping for a mid-summer supply crunch, you are actively volunteering to be the exit liquidity for institutional desks unwinding their hedges.
Wall Street banks aren't lowering targets because they magically re-ran their supply models.
They are lowering them because the order books on the physical side look like an unmitigated disaster.
Enjoy the $BRENT glut.
The 9-to-5 system should be completely abolished. Workdays should be 10-3 or 9-2. There’s no reason people should spend most of their lives at work. Let people go home and have time for their families, partners, friends, and rest. This is why so many people hate their jobs.
Melania Trump files a BILLION DOLLAR defamation LAWSUIT threat to Hunter Biden for his comments about her EPSTEIN connection.
Hunter Biden responds: "Fuck That... I'm not apologizing"
High cortisol is aging you faster than drinking and partying
It also kills memory, makes you snap at people you love, and shrinks your hippocampus.
Here are 7 ways to reduce high cortisol:
1. Sunlight on skin in the first 30 minutes.