Investec Focus Radio UK

Brent crude reached $117.50 a barrel last week as renewed attacks on shipping in the Strait of Hormuz heightened supply concerns. Physical market tightness, rather than speculative buying, appears to be driving prices, while options signal concern about further near-term increases.

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Trump’s efforts to lower diesel prices have had little lasting impact, with New York futures near $200 a barrel. Brent crude touched $110 as attacks on shipping in the Strait of Hormuz and regional tensions intensified.

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Trump’s announced deal to import Russian diesel offers limited relief, with the proposed 3.7 million barrels small relative to global demand and delivery uncertain amid damage to Russian refineries.

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The G7’s 100 million barrel reserve release could ease diesel costs for UK businesses and motorists, following Trump’s confirmation that US diesel exports will continue. However, uncertainty over diesel volumes means relief may be temporary.

Please note: this podcast is provided for information purposes only and should not be construed as an offer, or a solicitation of an offer, to buy or sell financial instruments. This podcast does not constitute a personal recommendation and is not investment advice. Investec

Brent’s sharp swings, from $97 to above $108 a barrel, reflecting the uncertainty over renewed US-Iran talks and the future of the Strait of Hormuz.

Please note: this podcast is provided for information purposes only and should not be construed as an offer, or a solicitation of an offer, to buy or sell financial instruments. This podcast does not constitute a personal recommendation and is not investment advice. Investec