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Oil Prices, Geopolitics, and the Real Story Hiding in Refined Products

PRAGMA Webinar Series | Episode 1

2026 has been a volatile year for oil. Brent has flirted with $100 more than once, only to fade weeks later. Diesel margins have hit record highs. Chokepoint risk through the Strait of Hormuz and Bab el Mandeb keeps resurfacing as a live factor in pricing, not a tail risk.

We're launching PRAGMA Webinar Series, conversations shaping the future of energy and investment, with a session built around exactly this backdrop.

In our first episode, we sit down with Giacomo Prandelli, Commodity Trader and Founder of The Merchant's News, to work through the geopolitical layer behind this year's price swings, the US–China dynamic, and chokepoint risk through the Strait of Hormuz and Bab el Mandeb.

From there, the conversation lands on the part of the story that gets less attention: why refined products have become disproportionately expensive relative to crude, and what that means for capital allocation across the energy value chain.

This is a conversation for investors and operators trying to separate headline oil price moves from where the actual economics are shifting.

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Oil Prices, Geopolitics, and the Real Story Hiding in Refined Products
19 October, 2:00pm UK
Featuring Giacomo Prandelli, Commodity Trader and Founder of The Merchant's News

[Register Here]

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