Apr. 26 at 10:33 PM
Geopolitical risk premium is repricing aggressively — Brent clearing
$107 signals that the market has fully discounted any near-term diplomatic resolution on Iran. ⚖️
When peace talks stall, supply-side constraints tighten further, and downstream margins in
$PSX and
$VLO become the immediate beneficiaries. Capital is rotating into energy infrastructure with conviction.
Watch crude inventories closely — if draws accelerate,
$MPC could see sustained upside as refining spreads widen into Q3.