Trade with Conviction

February 6th: Crude moves: How tariffs and trade wars are shaping the markets

The latest episode of the Sparta Market Outlook podcast the team looks at the impact of U.S. trade policies and geopolitical tensions. The team discuss the recent tariff developments involving China, Canada, and Mexico, emphasising their limited immediate effect on crude flows but highlighting potential long-term disruptions, particularly with the EU.
They also analyse the evolving crude market, noting shifts in price spreads and arbitrage opportunities, particularly between WTI, Brent, and Dubai. Discussions extend to refined products, where European gas oil is identified as potentially overvalued, and gasoline markets show volatility due to changing trade flows and high shipping costs. The episode concludes with insights into weather patterns affecting fuel demand and refining margins, reinforcing the theme of market uncertainty in an era of geopolitical shifts.
For more information about Sparta, visit our website at www.spartacommodities.com

Freight Special with Mads Frank Markussen, Head of Freight Research & FFA at CM Navigator

In this special bonus episode of Sparta Market Outlook Felipe, Neil and Michael welcome guest Mads Frank Markussen, Head of Freight Research & FFA at CM Navigator, to discuss all things freight.
 
Mads and the Sparta team explore the impact of Trump’s tariffs, sanctions, and market inefficiencies on oil and freight trading, how tariffs on Mexico, Canada, and China could shift trade flows, potential US-Europe tariff conflicts, and the limited impact of Russian sanctions on dry bulk. The differences between tanker and dry bulk markets are discussed, as are the effects of emissions regulations on voyage costs across the industry.
 
To learn more about Sparta for Freight, visit https://www.spartacommodities.com/freight/

January 30th: Lunar New Year & global oil markets: Trump, geopolitics, the 'dark fleet,' and a possible Suez reopening

This episode of the Sparta Market Outlook Podcast features host Felipe Elink Schuurman and analysts Jorge, James, Michael, and Neil, exploring the effects of recent OFAC sanctions on Russian oil, geopolitical influences like potential Trump policies. They discuss crude oil spreads, the possible reopening of the Suez route, and regional product market trends, including the impact of the Dangote refinery on Nigerian imports. Stay tuned for insights on how these factors are shaping the oil market.

January 23rd: Sanctions excitement eases as product markets diverge East and West

In the latest Sparta Market Outlook Podcast episode, CEO Felipe Elink Schuurman and the team discuss the delayed tariffs on Canadian and Mexican oil, how shipping sanctions affect dirty freight and crude markets, and the diverging fortunes of refining in Asia vs Europe. They highlight trading opportunities in West African crude due to favourable pricing, note the pressure on European gas stocks from cold weather, and offer a bullish view on distillates. A surprising downturn in Singapore's gasoline market is analysed, alongside adjustments in crude pricing due to missing qualities in the market.

January 17th: Sanctions, supply shifts, and the changing oil landscape

In this episode of the Sparta Market Outlook Podcast, Rachel Williams is joined by analysts Phil and John, along with first-time guest Hoa, to discuss key developments in the oil market for early 2025. Hoa brings extensive experience, having led fuel oil analysis at Trafigura and worked across crude, diesel, and APAC power markets. With a background in global fixed income trading and equity research, Hoa now leads the development of Sparta’s forward-looking tools for fuel oil and feedstocks. The panel examines the impact of Russian sanctions, Middle Eastern supply dynamics, U.S. crude inventory pressures, and how Chinese tax changes are disrupting refining margins and global fuel oil pricing.

January 9th: 2025 kickoff: Natgas rallies, crude vs products diverge

In this episode of the Sparta Market Outlook Podcast, CEO Felipe Elink Schuurman and his team delve into the global oil market for the first time in 2025. They discuss the rally in natgas and its impact on oil, plus short-term outlooks for crude and products, with crude bullish and products mixed. 

December 18th: 2025 oil market: Bullish outlook amid sanctions and supply dynamics

In this special Christmas edition of the Sparta Market Outlook Podcast, Felipe Elink Schuurman and analysts Neil, June, and Jorge discuss the 2025 oil market. They analyse Brent flat price scenarios, highlighting potential U.S. sanctions, OPEC+ strategies, and differing supply forecasts.
 
The podcast explores East-West spreads for naphtha and gasoline, noting a bullish outlook for naphtha due to European weakness and Asian demand, but a bearish one for gasoline due to competitive European exports and new refining capacities. Macroeconomic factors like U.S. inflation and Chinese stimulus are considered, urging a balanced approach to trading amidst global uncertainties.
 
 
 
 
 
 

December 12th: OPEC, 2025 balances, and sanctions

In this episode of the Sparta Market Outlook Podcast, hosted by Sparta CEO Felipe Elink Schuurman along with analysts Neil, Phil, and James, key oil market trends were explored. Topics included OPEC+'s delayed supply increases, contrasting IEA and EIA forecasts, and skepticism surrounding China's vague stimulus announcements. Geopolitical risks, such as potential U.S. sanctions, were analysed for their impact on crude flows and pricing. The team highlighted improving distillate cracks with a bearish outlook for Q1 2025, an overpriced North Sea market, narrowing TI Brent spreads, and mixed East-West arbitrage dynamics. 

December 4th: China’s crude shift, U.S. sanctions, and global oil trends

In this episode of the Sparta Market Outlook Podcast, CEO Felipe Elink Schuurman joins analysts June, Neil, and Phil to explore global oil market dynamics, focusing on China's shifting crude import strategies. They discuss reduced Iranian crude imports due to U.S. sanctions, increased demand for alternative medium-sour crudes from West Africa and the Middle East, and the broader implications of OPEC+ decisions and geopolitical moves on crude grades.
 
The discussion also covers regional product markets, including naphtha, gasoline, and fuel oil. In the East, reduced Chinese gasoline exports are strengthening markets, though physical tightness remains uncertain. In the Atlantic Basin, the team analyses pad-level inventories and ARB movements, highlighting challenges and opportunities for European and U.S. exports. This episode offers actionable insights for navigating supply-demand dynamics and geopolitical uncertainty.

28th November: Crude conundrums and refining resurgence: Insights for Q1 2025

In this episode of the Sparta Market Outlook Podcast, Rachel, Neil, Phil, and James explore the latest oil market trends, focusing on OPEC+ strategies, rising refining margins in Europe and Asia, and tightening product markets due to reduced Chinese exports and Middle Eastern supply constraints. They also examine price divergences between sweet and medium crude grades and their implications for refining.
Geopolitics take center stage as the team discusses U.S.-Iran relations and potential shifts under new U.S. leadership. The episode concludes with insights on regional stock levels, refinery outages, and export trends, highlighting key factors like OPEC’s decisions, geopolitical risks, and supply-demand dynamics shaping Q1 2025.