--- title: Syz The Moment | oil (11) description: oil | Syz The Moment (11) --- [![Syz Private banking](https://blog.syzgroup.com/hs-fs/hubfs/Logo.png?width=140&name=Logo.png "Syz Private banking")](https://www.syzgroup.com/fr) ## **Thinking** out loud [Subscribe](https://25733253.hs-sites-eu1.com/newsletter-signup?hsLang=en) [![Contact Us](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2) - [OUR SERVICES](https://www.syzgroup.com/en/private-banking) - [ABOUT SYZ](https://www.syzgroup.com/en/about/welcome-to-syz) - [CAREERS](https://www.syzgroup.com/en/careers) - [PRESS](https://www.syzgroup.com/en/news) - [Blog Homepage](https://blog.syzgroup.com) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thoughts/tag/the-week-in-seven-charts) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Fixed Income Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [Equity Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [CONTACT](https://www.syzgroup.com/en/contact-us/form) - [ENGLISH](https://www.syzgroup.com/) - [FRANÇAIS](https://www.syzgroup.com/fr) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Weekly Fixed Income](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [The week in seven charts](https://blog.syzgroup.com/slow-food-for-thoughts/tag/the-week-in-seven-charts) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [Weekly Equities](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Our Services](https://www.syzgroup.com/en/private-banking) - [About Syz](https://www.syzgroup.com/en/about/welcome-to-syz) - [Careers](https://www.syzgroup.com/en/careers) - [Press](https://www.syzgroup.com/en/news) - [Contact](https://www.syzgroup.com/en/contact-us/form) - [English](https://www.syzgroup.com/) - [Français](https://www.syzgroup.com/fr) ## **Sign-up** for our newsletter This website uses cookies to enhance user navigation and to collect statistical data. You can change your settings below to refuse the use of cookies. For more information, please refer to the [Cookies policy](https://www.syzgroup.com/en/legal-notices). Mandatory cookies Functional cookies Statistics & marketing I confirm I am not a US citizen residing in the US I confirm I am not accessing this site from the US I confirm that I am not a resident of Canada (except for Ontario, Quebec, British Columbia or Alberta). Agree and confirm ### Restricted access We are sorry that for legal reasons we are not able to help US citizens or Canadian residents other than in Ontario, Quebec, or Alberta. Best wishes for the future… ### Restricted access We are sorry that for legal reasons we are not able to help US citizens or Canadian residents other than in Ontario, Quebec, or Alberta. Best wishes for the future… You chose the following profile. If you made a mistake, please change here USA Country Switzerland Canada: Other than Ontario, Quebec, Alberta Canada: Ontario, Quebec or Alberta USA Other country Language Language English French German Italian I confirm Legal information This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. 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 Thought](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) - [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) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [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) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [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) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [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) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [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) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [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 13 Apr 2026 - - - #### +1300% in a year, easy to think the move is done. But as Bloomberg highlights, the Breakwave Tanker Shipping ETF (BWET) reflects deeper forces. Even before the conflict: - Aging fleet - Tight capacity - Sanctions limiting supply ➡️ The war accelerated existing trends. Now the question isn’t how far it’s gone, but what’s changed. Structural tightness remains: - Longer, more complex trade routes - Sourcing shifting farther away - Rising demand for shipping capacity ➡️ That’s why gains may not fully unwind, even with peace. As John K. notes: the story may shift from war-driven to fundamentally driven. The fundamentals still point to persistence. Source. Bloomberg [#ETF|](https://blog.syzgroup.com/syz-the-moment/tag/etf) [#oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) ![+1300% in a year, easy to think the move is done.](https://blog.syzgroup.com/hubfs/7-Apr-13-2026-12-57-54-1733-PM.jpg) ![+1300% in a year, easy to think the move is done.](https://blog.syzgroup.com/hubfs/7-Apr-13-2026-12-57-54-1733-PM.jpg) 13 Apr 2026 - - - #### The oil shock's impact on global inflation is likely to be temporary and short-lived. Source: Bloomberg [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) ![The oil shock's impact on global inflation is likely to be temporary and short-lived.](https://blog.syzgroup.com/hubfs/6-Apr-13-2026-12-56-32-1384-PM.jpg) ![The oil shock's impact on global inflation is likely to be temporary and short-lived.](https://blog.syzgroup.com/hubfs/6-Apr-13-2026-12-56-32-1384-PM.jpg) 13 Apr 2026 - - - #### Google searches for "price of oil" just hit a record high: 300% above the 2022 Russia-Ukraine war peak and the 2008 financial crisis combined. 20 years of data. Every war, every crash, every crisis... all dwarfed by a single vertical line in 2026. The whole world is watching the pump. Source: Arbor Research, Mario Nawfal on X [#Food for Thought|](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) [#oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) ![Google searches for ](https://blog.syzgroup.com/hubfs/5-Apr-13-2026-12-55-28-1650-PM.jpg) ![Google searches for ](https://blog.syzgroup.com/hubfs/5-Apr-13-2026-12-55-28-1650-PM.jpg) 10 Apr 2026 - - - #### North Sea crude prices for immediate delivery continue to highlight mounting stress in the physical market While headlines focus on futures, the real stress is building in the physical market. North Sea crude for immediate delivery is surging as European and Asian refiners scramble to replace barrels lost during the month-long Strait of Hormuz blockade. And the key signal? Dated Brent—the benchmark for physical cargoes—is telling a very different story than futures. Dated Brent jumped 7% to $132 June Brent futures are still sitting around $95 That’s not just a gap. That’s a massive dislocation between real supply and paper pricing. Meanwhile, the squeeze is getting worse: Forties Blend—another spot market indicator—traded near $147/barrel Translation: The barrels you can get today are becoming dramatically more expensive than what the market thinks oil should cost tomorrow. Why this matters: When physical markets decouple from futures like this, it often signals: Immediate supply shortages Panic buying from refiners And potential repricing across the entire energy complex Bottom line: Are Physical prices already telling us what futures haven’t caught up to yet??? Source: Ole S Hansen, Saxo Bank [#Commodities|](https://blog.syzgroup.com/syz-the-moment/tag/commodities) [#oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) ![North Sea crude prices for immediate delivery continue to highlight mounting stress in the physical market](https://blog.syzgroup.com/hubfs/5-Apr-10-2026-01-43-02-0936-PM.jpg) ![North Sea crude prices for immediate delivery continue to highlight mounting stress in the physical market](https://blog.syzgroup.com/hubfs/5-Apr-10-2026-01-43-02-0936-PM.jpg) 8 Apr 2026 - - - #### The fastest oil crash since COVID just happened. $21 gone. In hours. Here’s what the market is pricing in right now: → Hormuz reopening. Supply returns. → Strategic reserves stop draining. Pressure eases. → Saudi premium collapses. Asian refiners breathe. → LNG reroutes. Freight costs drop. Every trade that worked during the war just flipped overnight. But let’s keep in mind the full story: - The “ceasefire” is 2 weeks old. Not a peace deal. - Hormuz has real technical limitations. It doesn’t reopen like a faucet. - 11 million barrels/day of infrastructure is damaged. - Qatar LNG takes years to rebuild. Peace is harder to price than war. War gives you a narrative. Peace gives you uncertainty. The most volatile oil trade in a generation just entered its most dangerous phase — and most traders are celebrating. That’s usually when you should be careful. What’s your read? Are you buying the dip or watching from the sidelines? Source: CNBC, Jack Pradelli [#Commodities|](https://blog.syzgroup.com/syz-the-moment/tag/commodities) [#oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) ![The fastest oil crash since COVID just happened.](https://blog.syzgroup.com/hubfs/1-Apr-08-2026-01-53-23-0338-PM.jpg) ![The fastest oil crash since COVID just happened.](https://blog.syzgroup.com/hubfs/1-Apr-08-2026-01-53-23-0338-PM.jpg) 7 Apr 2026 - - - #### Markets have historically tended to bottom well ahead of broader spillover effects. As Andreas Steno Larsen notes, “markets typically bottom when the rate of change improves.” Source: TME [#Food for Thought|](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) [#oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) ![Markets have historically tended to bottom well ahead of broader spillover effects.](https://blog.syzgroup.com/hubfs/7-Apr-07-2026-02-25-32-7491-PM.jpg) ![Markets have historically tended to bottom well ahead of broader spillover effects.](https://blog.syzgroup.com/hubfs/7-Apr-07-2026-02-25-32-7491-PM.jpg) 7 Apr 2026 - - - #### SPX has tracked oil almost tick-for-tick since the Iran war began. Now it’s starting to decouple. Do you trust forward-looking equities, or oil stuck at extremes? Source: TME [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) ![SPX has tracked oil almost tick-for-tick since the Iran war began. Now it’s starting to decouple.](https://blog.syzgroup.com/hubfs/6-Apr-07-2026-02-24-47-7783-PM.jpg) ![SPX has tracked oil almost tick-for-tick since the Iran war began. Now it’s starting to decouple.](https://blog.syzgroup.com/hubfs/6-Apr-07-2026-02-24-47-7783-PM.jpg) 7 Apr 2026 - - - #### The Strait of Hormuz is the lifeline of the global economy: Saudi Arabia is the largest source of crude oil transiting the Strait at 38%, followed by Iraq at 22% and the UAE at 14%. Iran, Kuwait, and Qatar follow at 11%, 10%, and 5%, respectively. On the destination side, China receives the largest portion at 37%, followed by India at 14%, Other Asia and Oceania at 16%, South Korea at 12%, and Japan at 12%. This means ~75% of all crude oil passing through the Strait flows to Asia, making the region overwhelmingly the most exposed to the current disruption. Saudi Arabia and Iraq alone represent 60% of all crude transiting the chokepoint, meaning any prolonged closure disproportionately impacts their export revenues and Asian buyers simultaneously. The Strait of Hormuz is the most critical chokepoint in global energy flows. Source: Global Markets Investor [#energy|](https://blog.syzgroup.com/syz-the-moment/tag/energy) [#oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) ![The Strait of Hormuz is the lifeline of the global economy: Saudi Arabia is the largest source of crude oil transiting the Strait at 38%, followed by Iraq at 22% and the UAE at 14%.](https://blog.syzgroup.com/hubfs/4-Apr-07-2026-02-22-14-0188-PM.jpg) ![The Strait of Hormuz is the lifeline of the global economy: Saudi Arabia is the largest source of crude oil transiting the Strait at 38%, followed by Iraq at 22% and the UAE at 14%.](https://blog.syzgroup.com/hubfs/4-Apr-07-2026-02-22-14-0188-PM.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/tag/oil/page/10) [9](https://blog.syzgroup.com/syz-the-moment/tag/oil/page/9) [10](https://blog.syzgroup.com/syz-the-moment/tag/oil/page/10) [11](https://blog.syzgroup.com/syz-the-moment/tag/oil/page/11) [12](https://blog.syzgroup.com/syz-the-moment/tag/oil/page/12) [13](https://blog.syzgroup.com/syz-the-moment/tag/oil/page/13) [❯](https://blog.syzgroup.com/syz-the-moment/tag/oil/page/12) [❯❯](https://blog.syzgroup.com/syz-the-moment/tag/oil/page/31?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. Follow us ## **Thinking** out loud - - - - ## **Investing** with intelligence Our latest research, commentary and market outlooks #### [Weekly Market Update](https://blog.syzgroup.com/fast-food-for-thoughts/tag/weekly-market-update?hsLang=en) #### [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus?hsLang=en) #### [Asset Allocation Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights?hsLang=en) #### [Semi-annual Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/semi-annual-outlook?hsLang=en) - [Contact](https://www.syzgroup.com/en/contact-us/form) - [Terms & conditions](https://www.syzgroup.com/sites/default/files/document/2021-12/001-2_en-general_terms_and_conditions_w.pdf) - [Data protection notice](https://www.syzgroup.com/en/data-protection-notice) - [Cookies policy](https://www.syzgroup.com/en/legal-notices) - [Syzgroup.com](https://www.syzgroup.com/)