Rory Johnston focused on the diesel crisis, Hormuz oil flows, refined-products markets, and North American pipeline strategy. He argued that diesel demand is structurally difficult to destroy, so a US diesel-export ban could lower Gulf Coast prices temporarily but ultimately reduce refinery runs and raise prices across fuels 1. He also maintained that rising Hormuz flows are real but do not mean conditions are normal or that the disruption is over 184056. In North America, he discussed how tariffs and uncertainty have weakened assumptions underpinning cross-border energy trade, making strategic considerations more important alongside commerciality 49.
On the record
last 30 days · 48 positionsLatest positions
- RJRory JohnstonStrongly bullish on crude As long as the war continues and Hormuz stays throttled, crude and product prices will keep grinding higher. ▶ 17:39 The Shocking Reason Gas Prices Can’t Come Down A… · 30 Sept
- RJRory JohnstonRisk rising sharply on Strait of Hormuz Attacks are still occurring in the Strait and the situation remains highly precarious and vulnerable. ▶ 3:09 The Shocking Reason Gas Prices Can’t Come Down A… · 30 Sept
- RJRory JohnstonStrongly bullish on diesel Diesel prices will stay high or keep rising until the overall economy slows enough to destroy demand. ▶ 39:55 The Shocking Reason Gas Prices Can’t Come Down A… · 30 Sept
- RJRory JohnstonSharply worsening on Russia Russia's diesel and gas oil exports have functionally collapsed to almost nothing after its export ban. ▶ 27:59 The Shocking Reason Gas Prices Can’t Come Down A… · 30 Sept
- RJRory JohnstonAgainst on US A full U.S. diesel export ban is a bad idea; at most a proportional throttling of export licenses is likely. ▶ 4:45 The Shocking Reason Gas Prices Can’t Come Down A… · 30 Sept
- RJRory JohnstonWorsening on US A diesel export ban would be bad for industry and the full cycle of the U.S. economy and would break the refining system within a month or two. ▶ 31:35 The Shocking Reason Gas Prices Can’t Come Down A… · 30 Sept
- RJRory JohnstonRisk rising sharply on diesel The diesel market is at the steepest part of the pricing curve, so small volume losses can double crack spreads overnight. ▶ 42:23 The Shocking Reason Gas Prices Can’t Come Down A… · 30 Sept
- RJRory JohnstonStrongly hawkish on Federal Reserve System If high prices persist, central banks will keep raising rates to bring the economy into balance. ▶ 46:05 The Shocking Reason Gas Prices Can’t Come Down A… · 30 Sept
- RJRory JohnstonWorsening on China China's crude oil imports have pulled back dramatically, by about 5.5 million barrels a day at the monthly peak. ▶ 13:23 The Shocking Reason Gas Prices Can’t Come Down A… · 30 Sept
- RJRory JohnstonWorsening on Iran Iran is gradually losing its control over the Strait of Hormuz. ▶ 6:17 The Shocking Reason Gas Prices Can’t Come Down A… · 30 Sept
- RJRory JohnstonBullish on ICE gas oil A U.S. diesel ban would send European gas oil prices skyrocketing, widening the Gulf Coast–ICE gas oil spread. ▶ 38:21 The Shocking Reason Gas Prices Can’t Come Down A… · 30 Sept
- RJRory JohnstonAgainst on White House Any White House diesel export restriction would be a short-term electoral sugar high that it likely won't follow through on. ▶ 38:21 The Shocking Reason Gas Prices Can’t Come Down A… · 30 Sept
Their output
295 in September 2026Stories it travels in
i
The stories
- ○ a voice, on the left
- ◌ a voice raising half of these
- ● a subject, on the right, under its story
- ⌒ a line is a voice raising a subject — thicker, more items; colour is the story
The stories this entity travels in: on the right, each story with the subjects seen alongside it; on the left, the voices that raised them, and a line for every subject a voice raised, bundled by story. Tap a voice to light everything it raises, a subject for who raised it, a story for its own lines. The crumb goes back.
Who brings it up
- TankerTrackers.com, Inc. 2 mentions
- Daniel Lacalle 2 mentions
- David Lin 2 mentions
- Jeffrey Currie ++ 1 mention
- Amena Bakr 1 mention
- Warren Pies 1 mention
- Rob Wilson 1 mention
- Bob Elliott 1 mention
See what your own voices say about Rory Johnston, every morning.
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