Theme · Updated
What podcasters are saying about Oil & fuels
Summary
In the past 30 days, 84 speakers on 30 finance podcasts discussed Oil & fuels in 163 views. Chorus has followed Oil & fuels since September 25, 2026: 167 views from 86 speakers on 30 shows.
Who talks about it most
The latest views
Newest first. Every quote is checked against the episode's transcript.
Kevin Warsh · Federal Reserve
Oil keeps rising on geopolitics, breaking its prior correlation with market interest rates.
Warsh said oil prices and market interest rates moved together this year, a correlation that was quite strong until very recently. Oil has kept rising, largely due to geopolitical events, and crack spreads between oil and refined products remain elevated. Interest rates have rolled over to the downside while oil continued higher. Oil futures have moved up over recent weeks. If oil falls, the Fed would have to examine the effects on its dual mandate and financial markets.
“There'd been a stable correlation between oil prices as they've moved up this year generally and interest rates, not the interest rates that we control, but interest rates set in the market. That correlation has been quite strong until very recently.”at 11:51
The David Lin Report: Fed Split Over Rates: Why Didn't The Fed Hike Today? ·
Richard Portes · London Business School
Higher oil prices hit Europe and the UK much harder than the US because they import most of their oil.
Europe is hit much harder than the US by the price of oil. Both the EU and the UK import a very substantial amount of their oil, which has caused problems for their economies. The import dependence is the mechanism behind the uneven hit.
“Europe is hit much harder than The United States by the price of oil. We import here, and I'm talking about The UK as well as the European Union. We import a very substantial amount of our oil.”at 22:37
Bloomberg Surveillance: Markets Price in Tech Spending and Midterm Elections ·
Erik Townsend · MacroVoices
Refinery damage from strikes may keep refining capacity impaired for years after the war ends.
Strikes on Russian, Saudi and Iranian refineries are removing refining capacity. Refineries take about ten years to build, so the damage could last well beyond the war. Townsend thinks the news is not picking up on this and that the cracks and product prices could stay tight for years after the conflict ends.
“If we take refineries out and we reduce the global capacity for refining products, ... Refineries take ten years to build. ... the damage we're doing to refining capacity could be permanent. Not permanent, but persistent for many years after the war finally ends.”at 5:01
MacroVoices: MacroVoices #556 Luke Gromen: US Midterms & Beyond ·
Patrick Ceresna · Big Picture Trading
Oil is in a decisive uptrend; peace headlines fade, and a post-midterm re-escalation could push WTI back to about $120.
Each peace headline has produced only a modest price response, and oil has regained its previous highs within a reasonable period every time. Ceresna reads that as an environment where oil keeps trending higher and is probably anticipating a re-escalation in the post-midterm period. Crude is in a decisive bull trend, and only a geopolitical disruption would break it. Technically, the upside target is the previous WTI high of about $120, and Brent could clear its prior highs if that move happens.
“regains itself back to its previous highs in any reasonable period afterwards. So we continue to have an environment where oil is trending higher and very likely anticipating a re escalation of the situation in the post midterm period.”at 47:48
MacroVoices: MacroVoices #556 Luke Gromen: US Midterms & Beyond ·
Gary Cohn · IBM
Refined product prices will stay elevated and feed into food and agriculture costs.
Cohn notes the crack spread has widened dramatically and refined products are what the US consumes. Even as time helps, refined products will be higher than before, and that feeds into food, agriculture and essentially everything else, so the cost pressure won't go away.
“You're right that the refined products will be higher than they were, and that feeds into... It feeds into food. It feeds into agriculture.”at 18:45
Squawk Pod (CNBC Squawk Box): Gary Cohn & Chris Sununu: The Fed, AI, & the Midterms 10/29/26 ·
Kevin Hassett · White House National Economic Council
Gulf bypass pipelines, US refinery expansion and European reserve releases will blunt Hormuz risk; crude is plentiful, refined products tight.
He argues that the energy price pressure from the Iran conflict will ease. Gulf countries are building backup pipelines that route around the Strait of Hormuz, so Iranian disruption will matter less over time. US refineries are working to add capacity, and the US has plenty of crude but not enough refined product. He says a negotiated release of European strategic reserves of refined products is helping to limit the disruption. He says he cannot forecast the war, but argues the supply response is reducing the economic impact.
“The Gulf countries are building backup pipelines to go around so that the Iranians continue to cause trouble that it'll matter less and less. US refineries are trying to increase capacity. We have plenty of crude, not enough refined product.”at 7:30
Bloomberg Talks: NEC Director Kevin Hassett Talks US Economy ·
Christine Lagarde · European Central Bank
Renewed energy price rises are an upside inflation risk and a downside growth risk.
Energy prices have continued to rise after the Middle East conflict began. Diesel and petrol prices reached new peaks in September, partly reflecting elevated refining margins. Higher energy costs are hitting consumer confidence and real incomes, which weighs on spending and growth. The same energy shock feeds into inflation through indirect and second-round effects. The longer energy prices stay high, the more likely they are to push up broader inflation.
“Energy prices have continued to rise, posing upside risks to the inflation outlook and downside risks to the growth outlook.”at 0:32
ECB press conferences and Euro Matters (ECB podcast): President Lagarde presents the latest monetary policy decisions – 29 October 2026 ·
Ed Morse · Hartree Partners
Product tightness persists; refining cannot quickly recover, so diesel prices stay high.
Inventories are at about their lowest in a decade in days of forward demand cover, and the tightness is worse for products than for crude. Refineries are not delivering from the Middle East and Russia, and California and European refineries have closed. Refining capacity cannot come back quickly because companies do not want to invest in it, so diesel prices keep rising.
“There's no quick fix and you can't bring refining back because people don't want to do it and it's a dicey investment to make.”at 22:16
Bloomberg Surveillance: Outlook for Inflation, Oil, and Tech ·
Ed Morse · Hartree Partners
Oil price premium may be limited as oil intensity of GDP falls and OPEC members produce more.
Oil intensity of GDP has fallen sharply, and China and the wider world have found substitutes for oil as a transport fuel. Global oil demand fell last year even as GDP grew. OPEC is effectively dead, and its largest members want to produce more, which can offset the risk from a Hormuz disruption. So a lasting premium is only yes and no.
“we're seeing a lower global oil intensity of GDP... led by China... We know that OPEC is dead... the largest members of OPEC that want to all produce more oil.”at 26:04
Bloomberg Surveillance: Outlook for Inflation, Oil, and Tech ·
Dan Nathan · RiskReversal Media
Oil and diesel prices are heading higher, with Ukraine refinery strikes adding to supply risk.
Nathan says the White House is signaling that oil and diesel are going higher right now. He links this to a possible restart of the war and to Ukraine bombing Russian refineries. He sees this unfolding between now and year-end and says he does not know what it does for inflation expectations or spending for citizens already struggling.
“And the White House is telling us that oil is going higher. They're saying it right now. That diesel is going higher.”at 43:11
CNBC Fast Money: Alphabet Search Miss, Microsoft Azure Beat and Fed’s Hawkish Pause 10/28/26 ·
Jim Fish · WM
Diesel prices will not keep rising; Fish expects them to eventually reverse course.
Diesel rose about 80 cents, roughly 15%, in September, driven partly by the war in Iran. Waste Management has a fuel surcharge that offsets the cost, but there is a lag, which made the quarter harder. Even so, Fish does not think diesel goes up forever and expects it to eventually reverse course. He gives no timeline, and the lag between prices and the surcharge is the company's near-term exposure.
“I don't think diesel goes up forever. I think part of it is driven by this, you know, kind of the the the war in Iran”at 35:50
Mad Money with Jim Cramer: Mad Money w/ Jim Cramer 10/28/26 ·
Danny Moses · Moses Ventures
Energy stocks remain attractive: under-owned sector with cleaned-up balance sheets, though higher oil brings demand destruction.
Danny says the firm has been in energy for years. Energy was a small share of the S&P 500 and was ignored after ESG pressure, while the sector cleaned up its balance sheets, so the stocks looked cheap with oil at $65. He is unsure how long oil stays at around $100 and notes that higher oil is itself the cure for higher oil through demand destruction. He still sees bottom-up value in energy beyond the large caps like Chevron and Exxon, which active managers may be overlooking.
“We've been in energy for years, mainly post ESG. No one was paying attention to the sector. They cleaned up their act in terms of the balance sheet. Nobody owned them.”at 37:10
On The Tape with Danny Moses: Lessons From The Great Financial Crisis | "Clear Takes" with Vincent Daniel and Danny Moses ·
Paul Donovan · UBS Global Wealth Management
Diesel prices do not enter the PCE deflator directly, only indirectly through cost pass-through into other prices.
Donovan says energy inflation will push up the headline PCE numbers, but notes diesel prices are not a direct part of the calculation. Diesel affects the data only as a cost pass-through into other prices, including some that form part of core inflation.
“diesel prices are not a direct part of this calculation. Diesel will only appear as a cost pass through into other prices, although that will include prices that form part of the core inflation calculation.”at 1:30
UBS On-Air: UBS On-Air: Paul Donovan Daily Audio 'Mundanity upon mundanity' ·
Axel Merk · Merk Investments
Oil prices are tied to Iran war risk; a resolution would ease the oil-driven inflation concern.
Axel tracks the correlations between oil, gold and bond prices. Last week a risk-off move saw bonds rally while oil rose, a clear short-term decoupling he hopes shows the market is moving past the Iran war. He says it may not last, since tensions could re-escalate. If a resolution comes, the inflation concerns induced by high oil prices should fade, which matters for how the Fed thinks about the economy. Warsh referenced the decoupling several times, which Axel sees as encouraging for the path ahead.
“last week we had this risk off environment and bond prices rallied in that while oil prices went higher. And so there was a clear decoupling at least the short term, remains to be seen whether that persists.”at 28:00
Thoughtful Money: FOMC Live Reaction: Is The Fed Making A Policy Error? | Axel Merk ·
Axel Merk · Merk Investments
Refined fuel is scarce, so high prices must persist to cut demand; subsidies would backfire.
Merk says consumers are suffering from high fuel prices, but there isn't enough oil, especially refined fuel. Fuel therefore has to be more expensive so consumption falls, and that is the only way to deal with the shortage. Subsidizing fuel would cost an arm and a leg and create other problems. He adds that if the US and Iran reach a resolution, oil would likely fall below a toll-system scenario, and if the world muddles through, it adapts, for example by investing in refining in Canada.
“we are all suffering from the high fuel prices, but that's just what it is, right? There isn't enough oil around, especially not refined fuel. And so it has to be more expensive, so there's less consumption of it. It's the only way to deal with it.”at 43:00
Thoughtful Money: FOMC Live Reaction: Is The Fed Making A Policy Error? | Axel Merk ·
Chris Wright · U.S. Department of Energy
High crude and fuel prices reflect a global refining shortage, not crude supply, so refining capacity must expand.
Wright says the high prices seen today are about a shortage of refining capacity around the planet rather than a lack of crude. He says the US military has kept oil flowing out of the region despite the conflict. He argues the government is expanding US refining capacity and working with allies to increase the flow of refined products. He also blames the previous Democratic administration's policies of closing coal plants and refineries for the broader energy-price problem.
“The high prices we see today are really about a shortage of refinery... Refining around the planet, and we're doing a lot to expand refining capacity in The United States and to work with friends and allies abroad to increase the flow of refined products.”at 6:49
Bloomberg Talks: Energy Secretary Chris Wright Talks Diesel Prices ·
Chris Wright · U.S. Department of Energy
Diesel is down 20 cents from its peak and will fall significantly once more refined diesel reaches the market.
Wright argues that the world is 'giantly short of diesel' today. Russia cannot export much diesel because the war consumes its own supply and Ukrainian strikes have knocked out its refineries. Diesel is still 20 cents a gallon below last month's peak, and he expects it to drop significantly. Getting there requires more refined diesel on the global market, which he expects to come from higher exports out of the Arabian Gulf and China re-entering diesel supply. He treats this as a challenge the government is working on daily. No timeframe is given.
“diesel is still down 20¢ a gallon from its peak last month. We will see it drop significantly. But to get there, we need more refined diesel onto the global marketplace.”at 13:59
Bloomberg Talks: Energy Secretary Chris Wright Talks Diesel Prices ·
Jeffrey Gundlach · DoubleLine Capital
Oil is too high, with WTI above $100 and shipping surcharges pushing effective spot near $135.
WTI is above $100 and Brent is also high. Shipping surcharges mean the effective cost is closer to $135 than the quoted commodity spot price, so oil is already very elevated. Gundlach sees this as the main reason the Fed has to hike in December unless oil cracks.
“Absence a crack in the oil price, I think they have to hike in December. The oil price is just too high. I mean, WTI is over a 100.”at 17:01
Joe Terranova · Virtus Investment Partners
Energy trade is rewarded and drawing CTA capital amid Middle East conflict; gold and silver lag.
Terranova argues that CTA money is being pushed into the energy trade, which is being rewarded, so CTAs are staying and adding. He says gold and silver look less exciting than in January and February because of the Middle Eastern conflict. Heating oil, gasoline, Brent and WTI are performing well, and that performance is pulling capital away from precious metals.
“all that capital right now is being pushed towards the energy trade, and they're getting rewarded... Gold and silver doesn't look as exciting as it did in January and February now that you have this Middle Eastern conflict.”at 45:27
CNBC Halftime Report: Countdown to the Fed Decision 10/28/26 ·
Peter Grandich · Peter Grandich & Company
Oil will stay elevated because the Middle East conflict is causing more damage than officially acknowledged.
Grandich argues the Iran war was supposed to be won months ago but is now about eight or nine months in, with oil making near-new highs since it started. He says the opposing side is inflicting more damage than the self-declared victor, which keeps oil elevated. He doubts reports that Hormuz throughput is back to prewar levels, because the US is still drawing heavily on the Strategic Petroleum Reserve, a drawdown that cannot be sustained much longer and may become physically hard. He says oil at $115 to $120 shows there are problems regardless of official messaging.
“there's more damage being done from the opposing side than the so called victory side. And so I think that's part of the reason why oil is elevated and will stay elevated.”at 3:05
The David Lin Report: China's Tech Stocks Crash 40%: Is Wall Street Next? | David Woo ·
Peter Grandich · Peter Grandich & Company
Energy stocks can still perform well but are not undervalued after their run.
Grandich says he is not bullish on the broad equity market. He says energy stocks can still perform well, but he sees no undervaluation in them. He suggests anyone who has not yet participated is probably in a late stage of the trade. He ties this to the oil price, which he expects to stay elevated.
“I'm not bullish at all on the general equity market. [...] They can still perform well, but I don't see any undervalue in this there.”at 12:14
The David Lin Report: China's Tech Stocks Crash 40%: Is Wall Street Next? | David Woo ·
Robert Kaplan · Goldman Sachs
Elevated diesel prices feed into broad inflation because diesel is embedded in about 50 other items.
Kaplan explains that when diesel goes up, it is embedded in around 50 other items, so broad-based inflation is not a surprise while diesel is this elevated. He concludes that the inflation pressure from diesel is a supply-side cost pass-through rather than evidence of overheating demand.
“When diesel goes up, turns out it's embedded in 50 other items. And so a broad [-based] inflation is not a surprise when diesel is this elevated.”at 5:29
Bloomberg Talks: Goldman Sachs Vice Chair Robert Kaplan Talks Fed Meeting ·
Tyler Rosenlicht · Cohen & Steers
Canadian oil sands are underappreciated; their long reserve life will matter more as energy demand grows.
The team thinks the market is not paying enough attention to Canadian oil sands. Canadian oil producers hold roughly a hundred years of inventory. As the world accepts the energy-addition view, their ability to produce oil over the next 20 to 50 years will become increasingly important. The team sees this as an under-discussed source of long-term supply, which is why it holds the group.
“One that folks aren't talking about enough in our view is the Canadian oil sands. ... one of the nice things with Canadian oil producers is they have a hundred years of inventory behind their [backs].”at 7:35
UBS On-Air: Talking Markets (Powering the AI revolution) with Tyler Rosenlicht (Cohen & Steers) ·
Jim Cramer · CNBC
Cramer expects oil prices to fall much lower, helping rates and profits.
Cramer argues that the market will eventually stop worrying about oil, rates and profits because oil will be much lower and rates should follow lower, with profits rising. He says nothing has changed except that bonds are calm ahead of a Fed meeting, an election and a possible renewed strike on Tehran. Those event risks mean he does not call an all clear. Oil fell nearly $2 that day and is a main reason aerospace stocks have sold off, so he sees lower oil as a catalyst for the sector.
“there will come a time when we won't need to worry about oil or rates or profits. Oil will be much lower. We'll [see] rates lower and hopefully profits higher.”at 7:18
Mad Money with Jim Cramer: Mad Money w/ Jim Cramer 10/27/26 ·
Chris Wright · U.S. Department of Energy
Refined product flows out of the Gulf are rising and will lower gasoline, diesel and jet fuel prices.
Wright says Iran has tried to disrupt energy markets through the Gulf, the Red Sea and missile attacks on commercial ships. Since the conflict began, the US military has worked daily to move products out despite Iran's behavior. He cites an increase in refined product flows out of the Arabian Gulf, now carried on ships, which he says will bring gasoline, diesel and jet fuel prices down. He adds that these efforts would ramp up further if Iran escalates.
“We've seen an increase in the flow of refined products out of the Arabian Gulf region. ... That'll help bring gasoline and diesel and jet fuel prices down.”at 16:48
CNBC Power Lunch: Energy Secretary Interview, Low-Beta Stock Picks, Nucor CEO Exclusive 10/27/26 ·
Craig Fuller · FreightWaves
Diesel squeeze is driven by refined products and Ukraine refinery strikes, not just Hormuz crude.
Craig argues the energy problem is in refined products, especially diesel, not crude. Ukraine refinery attacks matter as much as the Hormuz disruption. US diesel exports are creating a domestic problem that hurts farmers and truckers, and he calls the diesel crisis a real problem for the administration. He says the public doesn't understand how nuanced the energy supply chain is. He assumes the status quo: the Iran and Russia-Ukraine conflicts are not wrapping up quickly, so he sees no near-term relief in sight.
“It's not crude. That's the problem. It's the refined energies. It's the refined products that actually are the issue diesel specifically.”at 36:58
Thoughtful Money: "No Signs Of The A.I. Party Slowing Down" | Craig Fuller ·
Mike Preston · New Harbor Financial Group
Oil stubbornly high; if it eases, it could catalyze a broader market bullish run.
Mike points to refiners in XLE, which hold Exxon and Chevron, hitting new highs while oil stays stubbornly high even as other commodities sell off. If oil comes off, that could become a catalyst. His firm is building energy exposure for a potential bullish run, though he notes such energy buildups can either launch a rally or accelerate a collapse.
“So if oil can come off, it could come down. That could be a catalyst ... we are building energy here for a potential bullish run.”at 1:07:35
Thoughtful Money: "No Signs Of The A.I. Party Slowing Down" | Craig Fuller ·
Vincent Deluard · StoneX
Oil could spike to $200+ a barrel on any disruption, given empty reserves and a tight market.
The market is tight. The SPR is empty, China's shadow inventories are gone, and China is importing again. Any disruption could have a parabolic effect on price. Adjusting for higher insurance and transport costs, plus geographic premiums (Brent above WTI, and Oman about $20 above WTI), a $200 headline price would be only the start. Refining margins are also very high, and capacity has been destroyed, so the problem is spreads and refining margins, not just WTI.
“And it's not out of the realm of possibility to see $200 oil. I mean, we have... The SPR is empty.”at 26:13
Monetary Matters: The Fed Put Is Dead: Why Stagflation & a Bear Market Are Next | Vincent Deluard | StoneX ·
Robert Kaplan · Goldman Sachs
Elevated diesel prices are feeding broad inflation, since diesel is embedded in many other goods and services.
Kaplan argues diesel is embedded in roughly 50 other items, so a broadening of inflation is unsurprising while diesel is this elevated. He ties diesel's persistence to the Fed's dilemma: raising rates would not bring diesel-driven inflation down.
“When diesel goes up, turns out it's embedded in 50 other items. And so a broadening of inflation is not a surprise when diesel is this elevated.”at 6:12
Bloomberg Surveillance: Previewing the Fed Meeting and AI IPOs ·
Dan Greenhaus · Solus Alternative Asset Management
Energy stocks are rallying largely on higher oil prices, not AI, with many near 52-week highs.
The energy sector is doing well, and while some of that is AI-related, much of it reflects the higher price of oil. Many energy companies are at or near 52-week highs and generate enormous cash flow. Energy is only about 3% of the market, so he does not argue for an overweight. He says individual investors can still own energy stocks profitably.
“The energy sector is doing really well, and it's not obviously AI... Some of it is AI related, but a lot of it is the higher price of oil.”at 10:17
137 older views on Oil & fuels are on the episode pages, and all of them are a question away in your AI with Chorus.
Ask your AI about Oil & fuels
Chorus gives Claude, ChatGPT and other assistants every view on Oil & fuels from the market's podcasts. Ask who's worried, who isn't, who changed their mind, and why.
Chorus reports what speakers said. It isn't investment advice.