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description=Data-centric, visualization-forward oil market research Thematic deep-dives, monthly data reports, and a weekly market wrap-up every Friday. Click to read Commodity Context, by Rory Johnston, a Substack publication with tens of thousands of subscribers.;
author=Rory Johnston;

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commodity context rory johnston substack commodity context subscribe sign in home oil context weekly data decks thematic research about oil iran war context weekly w21 crude prices sink once more on renewed iran war negotiation optimism though major diplomatic hurdles remain and the oil market continues to hemorrhage 19 hrs ago rory johnston 45 1 latest top discussions chinese demand destruction or strategic supply despite a 40 collapse in chinese crude imports data point to massive chinese market support in the form of heavy spr releases both crude and refined may 21 rory johnston 74 1 4 oil iran war context weekly w20 crude prices rise back toward 110 and term structure firms again as us iran talks stall out and trump s trip to china fails to yield any meaningful may 15 rory johnston 45 1 opec data deck may 2026 crude output slips further to fresh 35 year low for opec as the full impact of hormuz necessitated wellhead shut ins hit the tape and the uae departs may 13 rory johnston 38 oil iran war context weekly w19 crude prices pull back once again on hopes of a diplomatic resolution to the hormuz stoppage despite a resurgence of violence to levels not seen since may 8 rory johnston 47 1 north american oil data deck may 2026 continental production jumped back to life in february from winter storm depressed january levels while stateside product demand surged to the strongest may 7 rory johnston 46 context call may 2026 video understanding the sanguine strait stoppage after more than 2 months with hormuz closed and more than a billion barrels guaranteed already lost may 6 rory johnston 25 1 1 19 51 oil iran war context weekly w18 crude prices climb amidst ongoing deadlocked diplomacy the third month of the iran war breaching the billion lost barrel threshold and the uae may 1 rory johnston 52 1 see all commodity context data centric visualization forward oil market research thematic deep dives monthly data reports and a weekly market wrap up every friday subscribe commodity context subscribe about archive recommendations sitemap 2026 commodity context corp privacy terms collection notice start your substack get the app substack is the home for great culture this site requires javascript to run correctly please turn on javascript or unblock scripts