Yves here. Since Trump for the moment has blinked on his threat to resume attacks on Iran and the IDF has momentarily balked in executing Netahyahu orders on Iran, please forgive me by taking advantage of the momentary lull by running a cross post in lieu of an original post. Yours truly is still under the weather and also spending a lot of cycles on a site-related obligation, which I intend to discuss late this week. We are covering a war-related topic, how extremely high tanker prices are leading to buyers, particularly in Asia, shifting purchase away from distant sources with high transit cots, above all the US and Africa. That is turn is leading to discounting of that oil.

As a detour, a bit more on the unexpected (if likely only momentary) good news on the Israel front.…