The banks’ stricter lending policies will force refiners and marketers to hold fewer stocks
Letter from the US: Financial contagion and the oil industry – What, me worry?
Banks’ stricter lending policies will force refiners and marketers to hold fewer stocks, putting a squeeze on the oil industry
Just as in the past, the oil industry today seems blind to clear danger signs from outside sources. Oil executives and ministers are either blissfully unaware of or consciously disregarding significant problems, not the least of which is a financial system on the brink of disaster. The officials from oil firms and trading companies were in fine form in this regard at the FT Commodities Global Summit in March. For example, one trader told his audience: “The type of assets that we can bring to the banks’ balance sheets are exactly what the banks need.” As banks watch their assets melt away, the last thing they are interested in is oil trader assets. The industry has yet to acknowledge this cha
Also in this section
24 March 2026
It is an unusual story of out with the new and in with the old, as America First Refining shows the US going back to trusted energy security developments
23 March 2026
A complex and sometimes contradictory web of factors that include unpredictable oil prices, the globalisation of LNG markets, the expansion of Middle Eastern sovereign capital and the growth of datacentre demand will shape the energy landscape beyond 2026
23 March 2026
The Strait of Hormuz crisis highlights how key waterways can become global chokepoints
20 March 2026
Attacks on key oil and LNG assets across the Gulf mean a prolonged supply disruption, with damage to Qatar’s export capacity undermining confidence in the global gas system
