President Trump has signed a 60-day Jones Act waiver covering all products: wider in scope and duration than the market anticipated. The direct immediate impact on freight rates should be modest. The bigger story is distillates into PADD-1 and PADD-5 where premiums were already elevated, and the 60-day window makes vessel repositioning from LatAm routes commercially attractive. Net read: bullish TC14, as non-US flagged tonnage already in the USGC can now pivot north. The waiver is a soft first attempt to manage US pump prices. iI it fails, harder measures including export bans move closer to reality.
From @CBSNews, with comments from Michael Ryan (@SpartaFreight), Freight Commodity Owner at Sparta:
Before the war, 100 vessels a day transited the Strait of Hormuz. On Wednesday, one or two crossed.
What needs to happen before ships return:
> A ceasefire or negotiated arrangement that credibly lifts the military threat
> A sustained reduction in Iranian aggression that brings insurers back to the region
> A succession of safe crossings, not just one or two, but enough to build confidence that ships are arriving at destination ports
As Michael notes, it's not just economics. Shipping companies need to feel confident their crews are safe before they move.
The picture on AIS trackers tells the story clearly: normally, a fluid stream of vessels moving through the strait. Right now, tankers clustered and anchored on either side, waiting.
Read the full article: https://t.co/KRNPxzMWHl
#oilmarkets #oott #hormuz #freightmarkets
Our Iran War & Oil Markets Chart Pack (March 10) is out now.
A fast, visual snapshot of everything moving in oil markets right now.
Asia's feedstock crunch, record refined product price spikes, SPR limits, shifting tanker routes, and a fragmented market struggling to replace lost Gulf supply.
Curated on the Sparta platform.
Read now: https://t.co/ehnsG6XOP8
#oott #oilmarkets #hormuz #commoditytrading #oiltrading
Crude: Hormuz still closed
As the disruption drags on, the focus is turning to the possible “solvers”.
Commentary highlights:
> WAF and Brent physical markets are far quieter than paper prices suggest
> Talk of a US export ban is resurfacing. What would it actually mean for shale?
> Even aggressive SPR releases may not come close to replacing lost Hormuz flows
Volatility remains extreme as tanker attacks, political headlines and vessel movements keep the market guessing.
Read the full crude commentary on Sparta Knowledge. Start a 30-day free trial here: https://t.co/vrQegRgH43
#oiltrading #oott #crude #trading
Hate to see it end this way, but this was a special and historic season for @TexasTechFB. Love this special group of seniors, and appreciate everything they have done for our university and for our community. Thank you!
This season is just the beginning!! We will continue to build. Continue to develop. We will double down on resources, commitment, and resolve.
Long Live the Matadors!!
Manti Te’o’s first 11 games during his Heisman runner-up campaign vs. Jacob Rodriguez through the first 11 games of 2025.
Jacob Rodriguez should be a Heisman finalist this season.
#JRodForHeisman#ElJeisman