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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thoughts](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thoughts) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 7 Apr 2026 - - - #### Oil product exports from the Middle East dropped 65% in March compared to February. However, they may increase going forward. Why? Iran has recently categorized countries as: 1. Friendly; 2. Neutral; and 3. Non-friendly. Friendly countries will have free passage through the Strait of Hormuz, while neutral countries will be allowed to pass with a fee. This should enable higher levels of oil and other exports from the Middle East, but possibly still less than in February. Source: BraVoCycles Newsletter [#Food for Thoughts|](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thoughts) [#Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) ![Oil product exports from the Middle East dropped 65% in March compared to February.](https://blog.syzgroup.com/hubfs/10-Apr-07-2026-02-28-10-7424-PM.jpg) ![Oil product exports from the Middle East dropped 65% in March compared to February.](https://blog.syzgroup.com/hubfs/10-Apr-07-2026-02-28-10-7424-PM.jpg) 7 Apr 2026 - - - #### Iranian “missile hit rates against Israel have risen from 3% during the first two weeks of the war to 27%.” Source: Carl Quintanilla [#Food for Thoughts|](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thoughts) [#Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) ![Iranian “missile hit rates against Israel have risen from 3% during the first two weeks of the war to 27%.”](https://blog.syzgroup.com/hubfs/3-Apr-07-2026-02-21-29-9311-PM.jpg) ![Iranian “missile hit rates against Israel have risen from 3% during the first two weeks of the war to 27%.”](https://blog.syzgroup.com/hubfs/3-Apr-07-2026-02-21-29-9311-PM.jpg) 2 Apr 2026 - - - #### The Gulf "is now home to both the best-performing global bourse over the past month and the worst" "Dubai’s main stock index is the world’s worst performer so far in March .. Oman’s benchmark surged to the top of global rankings" Source: Ziad Daoud, Bloomberg [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) ![The Gulf ](https://blog.syzgroup.com/hubfs/8-Apr-02-2026-02-10-41-4139-PM.jpg) ![The Gulf ](https://blog.syzgroup.com/hubfs/8-Apr-02-2026-02-10-41-4139-PM.jpg) 1 Apr 2026 - - - #### The United Arab Emirates is now planning to open the Strait of Hormuz BY FORCE with OTHER allies, after President Trump said "fend for yourselves!" WSJ [#geopolitics|](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) [#Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) ![The United Arab Emirates is now planning to open the Strait of Hormuz BY FORCE with OTHER allies, after President Trump said ](https://blog.syzgroup.com/hubfs/9-Apr-01-2026-03-17-33-7802-PM.jpg) ![The United Arab Emirates is now planning to open the Strait of Hormuz BY FORCE with OTHER allies, after President Trump said ](https://blog.syzgroup.com/hubfs/9-Apr-01-2026-03-17-33-7802-PM.jpg) 26 Mar 2026 - - - #### The limited flow of traffic moving through the Strait of Hormuz is now sailing exclusively through an IRGC-controlled corridor requiring specific clearance codes and an Iranian escort service. Source: LLoyd's List [#Food for Thoughts|](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thoughts) [#Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) ![The limited flow of traffic moving through the Strait of Hormuz is now sailing exclusively through an IRGC-controlled corridor requiring specific clearance codes and an Iranian escort service.](https://blog.syzgroup.com/hubfs/3-Mar-26-2026-04-01-29-2766-PM.jpg) ![The limited flow of traffic moving through the Strait of Hormuz is now sailing exclusively through an IRGC-controlled corridor requiring specific clearance codes and an Iranian escort service.](https://blog.syzgroup.com/hubfs/3-Mar-26-2026-04-01-29-2766-PM.jpg) 25 Mar 2026 - - - #### Iran Controls Passage Through the Strait of Hormuz Iran has announced it will allow “non-hostile vessels” to transit the Strait of Hormuz, but only under Iranian control and coordination. This strait normally carries ~20% of global oil, yet thousands of ships are delayed, attacked, or paying high fees. Iran may block vessels linked to the US or Israel and is drafting laws to formalize control. Beyond shipping, this move signals a financial shift, including potential moves away from the US dollar, turning the Strait into a strategic leverage point in global energy and trade. Source: Financial Times [#geopolitics|](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) [#Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) ![Iran Controls Passage Through the Strait of Hormuz](https://blog.syzgroup.com/hubfs/10-Mar-25-2026-03-16-25-0513-PM.jpg) ![Iran Controls Passage Through the Strait of Hormuz](https://blog.syzgroup.com/hubfs/10-Mar-25-2026-03-16-25-0513-PM.jpg) 25 Mar 2026 - - - #### SHIPS PASSING THROUGH THE STRAIT OF HORMUZ 🟢 Feb 26 → 🚢 132 🟢 Feb 27 → 🚢 128 🟠 Feb 28 → 🚢 98 🟠 Mar 01 → 🚢 18 🟠 Mar 02 → 🚢 7 🔴 Mar 03 → 🚢 2 🔴 Mar 04 → 🚢 2 🔴 Mar 05 → 🚢 1 🔴 Mar 06 → 🚢 0 🔴 Mar 07 → 🚢 1 🔴 Mar 08 → 🚢 2 🔴 Mar 09 → 🚢 1 🔴 Mar 10 → 🚢 2 🔴 Mar 11 → 🚢 1 🔴 Mar 12 → 🚢 0 🔴 Mar 13 → 🚢 3 🔴 Mar 14 → 🚢 1 🔴 Mar 15 → 🚢 0 🔴 Mar 16 → 🚢 1 🔴 Mar 17 → 🚢 2 🔴 Mar 18 → 🚢 1 🔴 Mar 19 → 🚢 0 🔴 Mar 20 → 🚢 1 🔴 Mar 21 → 🚢 2 🔴 Mar 22 → 🚢 3 🔴 Mar 23 → 🚢 5 🔴 Mar 24 → 🚢 6 Source: Windward Maritime Intelligence, Lloyds List, PIB India, and regional briefings. [#Food for Thoughts|](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thoughts) [#Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) ![SHIPS PASSING THROUGH THE STRAIT OF HORMUZ](https://blog.syzgroup.com/hubfs/6-Mar-25-2026-03-08-54-9803-PM.jpg) ![SHIPS PASSING THROUGH THE STRAIT OF HORMUZ](https://blog.syzgroup.com/hubfs/6-Mar-25-2026-03-08-54-9803-PM.jpg) 17 Mar 2026 - - - #### Dubai Physical Prices vs. Brent Futures As highlighted by Anton Likhodedov @ALikhodedov on X: Many people are questioning why Brent futures aren’t higher and pointing out the massive premium of Dubai oil physical versus Brent futures (see post by Joumanna Bercetche on X his morning following her interview with Brent futures probably don’t fully reflect the severity of the current situation, but a few additional points—building on Michael’s chart on the right —are worth considering: 1) Brent reflects forward delivery and location differences. Brent is currently trading the May contract, and in about two weeks the market will roll to June. These contracts represent crude loading in the North Sea, while much of the incremental demand is in Asia. 2) Shipping times significantly affect the landed price. Looking at the Sparta dashboard, voyage times from the North Sea (for example Hound Point for Forties) to key Asian destinations are roughly: India / Singapore / South Korea: ~37–48 days By comparison: Fujairah → India (Sikka): under 3 days Fujairah → Singapore: about 11 days When you factor in these logistics, the difference in arrival times is substantial, which explains a large portion of the price discrepancy. 3) Crude quality also matters. As June Goh from Sparta explains in the article below, Asian refiners are also dealing with crude slate optimization and diversification, which affects pricing dynamics. That said, the gap between landed prices of Atlantic Basin cargoes and Fujairah cargoes has widened significantly. As a result, some Asian refiners are beginning to consider Brent despite the longer shipping time. A notable example: Trafigura sold a cargo of about 700,000 barrels for late-March loading to a Thai refiner. It’s reportedly the first time a Thai company has bought North Sea crude since at least 2019, when Bloomberg began tracking the data. [#oil|](https://blog.syzgroup.com/syz-the-moment/tag/oil) [#Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) ![Dubai Physical Prices vs. Brent Futures](https://blog.syzgroup.com/hubfs/5-Mar-17-2026-10-40-29-5311-AM.jpg) ![Dubai Physical Prices vs. Brent Futures](https://blog.syzgroup.com/hubfs/5-Mar-17-2026-10-40-29-5311-AM.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/tag/middle-east/page/4) [3](https://blog.syzgroup.com/syz-the-moment/tag/middle-east/page/3) [4](https://blog.syzgroup.com/syz-the-moment/tag/middle-east/page/4) [5](https://blog.syzgroup.com/syz-the-moment/tag/middle-east/page/5) [6](https://blog.syzgroup.com/syz-the-moment/tag/middle-east/page/6) [7](https://blog.syzgroup.com/syz-the-moment/tag/middle-east/page/7) [❯](https://blog.syzgroup.com/syz-the-moment/tag/middle-east/page/6) [❯❯](https://blog.syzgroup.com/syz-the-moment/tag/middle-east/page/9?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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