Raphael Portela
ON THE RECORD · 6 verbatim quotes · every quote source-verified
“Russia's refinery outages and export ban have taken a second slug out of the global pool,”
Raphael Portela · said date not stated · reported 2026-10-31
Portela added that Russia's refinery outages and export ban had further reduced the global supply pool.
“A Hormuz settlement would hit margins quickly on sentiment, but with inventories this depleted, the physical tightness carries well into 2027.”
Raphael Portela · said date not stated · reported 2026-10-31
Portela said a Hormuz settlement would hit margins quickly on sentiment, but with depleted inventories physical tightness would carry well into 2027.
“Product supply coming back, based on greater crude availability to the global refining sector: Gulf refineries restarting and Russian exports returning.”
Raphael Portela · said date not stated · reported 2026-10-31
Portela listed conditions needed to end the supply crunch, including greater crude availability, Gulf refineries restarting, and Russian exports returning.
“at a steep freight premium,”
Raphael Portela · said date not stated · reported 2026-10-31
Portela told CNBC that crude oil barrels were still getting out of the Gulf amid the war, but at a steep freight premium.
“getting out of the Gulf”
Raphael Portela · said date not stated · reported 2026-10-31
Portela told CNBC that crude oil barrels were still getting out of the Gulf amid the war, though at a steep freight premium.
“the diesel and jet fuel those barrels would have become largely aren't.”
Raphael Portela · said date not stated · reported 2026-10-31
Portela told CNBC that while crude oil barrels were still getting out of the Gulf, the diesel and jet fuel those barrels would have become largely were not available.