Energy Desk
Crude — Products — Gas · Daily Sheet · oil.ziweipalace.com
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I.

The Board

II.

Today’s Plan

Confluence — six pillars per board
Stand aside
    Event risk — next 24h+
      III.

      Structure & Arbitrage

      forward curves · spreads · cracks
      Curve shape — % vs front month
      Spreads & arbs
      Refining margins & gas arb — 12 months
      The barrel, split — refining margins on matched delivery months
      How the desk trades margin
      IV.

      Focus

      V.

      Positioning

      VI.

      Physical Balances

      Stocks vs the 5-year normal — one shared scale
      Capacity & rates — how much room is left
      SPR — level, runway, and what the desk's study proved
      SPR since 2008 — million barrels
      China — the buffer that absorbed the war
      Seaborne imports — the collapse, and the restock to come
      VII.

      Value Chain & Transmission

      Where the bottlenecks are — click to read
      Transmission map — event → trade
      The chain in full →
      VIII.

      Playbook

      Standing doctrine — the rules that override any day's opinion
      Gap-risk watch
      IX.

      The Ledger

      calendar · evidence · contracts
      Event horizon — next three weeks
      Research library — what is and isn’t real
      Contracts & unit risk