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01.09.26 - 20:36
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As Diesel Crack Explodes Higher, DNB Warns Beijing Has "Little Reason" To Rescue The West (ZeroHedge)
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As Diesel Crack Explodes Higher, DNB Warns Beijing Has "Little Reason" To Rescue The West
Bloomberg's NYMEX one-month heating-oil/crude spread, tracked on the Terminal as the HOCL1 Index, breached $100 per barrel early Tuesday before surging to nearly $106 by late morning.
The historic blowout is a major warning that refinery outages in Russia (read Goldman's latest diesel warning), restrictions on industrial fuel exports, and continued disruptions through the Strait of Hormuz are deepening a crisis concentrated in finished fuels rather than in crude availability.
Larger time frame:
We first warned:
Diesel crack spread hits record high, just shy of $100 https://t.co/pxNKK1OUeR pic.twitter.com/uAciv62yPk
— zerohedge (@zerohedge) August 13, 2026
The latest snapshot of the worldwide refined-products squeeze came Tuesday morning from Kelly Chen, a senior economist at DNB Carnegie specializing in China, emerging markets, and energy markets.
Chen noted that China is one of the few cou...
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01.09.26 - 18:45
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"Worse Under The Hood": Goldman Warns Consumer Stocks Cracking As Hedge Fund Exposure Tanks (ZeroHedge)
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"Worse Under The Hood": Goldman Warns Consumer Stocks Cracking As Hedge Fund Exposure Tanks
With the US national average for gasoline above the politically sensitive $4-per-gallon level and the University of Michigan Consumer Sentiment Index signaling waning household confidence as summer enters its final innings, pressure is building across the consumer complex.
Goldman Sachs' Scott Feiler warned Tuesday that consumer stocks have suffered several difficult weeks of underperformance, while investor exposure to the sector has collapsed to multi-year lows.
Feiler explained:
Worse Under the Hood: Consumer stocks have had a tough run the last few weeks. The Retail group was -6.5% in August and underperformed the market by over 5%. It has felt a bit worse than that under the surface, given many of the historically owned/quality/growth names have seen sell-offs of 10% to 50%. A list of 10 of these stocks and a few tactical thoughts on each are below...
More importantly, Feiler cited Goldman's prim...
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