HeyJaredThe Merchant's News
Commodity Analyst and Geopolitical Strategist. I connect market movements with global events. Founder of The Merchant News, a source of insight for over 45,000 industry professionals.
- Indexed issues, last 90 days
- 14
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- Sep 30, 2026
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- Aug 26, 2026
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What Are The Traders Buying? (opens the original)
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Merchants,In January I wrote that the biggest money in commodities was being made by traders you cannot buy: Vitol,Trafigura, Gunvor, Mercuria. I pointed to one listed company that sits underneath their trades. Marex closed at $39.17 on 23 January. It is at $72.13 today. That is 84 % on the price, about 92 % with dividends.<a class="image-link image2 is-viewable-img" href="https://substackcdn.com/image/fetch/$s_!dQ_u!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.a
Can Washington Have It All? (opens the original)
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“The President asked President Xi to increase production of refined petroleum products to help stabilise global supply“WHITE HOUSE FACT SHEET, 25 SEPTEMBER 2026<img alt="" class="sizing-normal" height="958" src="https://substackcdn.com/image/fetch
Why A 1 Billion EU Company Is Betting On The Next LNG Infrastructure? (opens the original)
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Merchants,11 days ago I was at Gastech in Bangkok and there was one thread running through every conversation on the floor: flexibility. Mobile infrastructure. How to monetise gas without waiting years for a pipeline or a billion dollar onshore terminal. You could feel it in the corridor talk before it showed up in any dataset.That thread took me back to a European company I wrote about in December (article here). It was trading under 10 euros a share then, today it is around 1
Is OPEC Losing Control? (opens the original)
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“We’re more powerful now than OPEC, and prices right after this very important election on November 3rd will be plummeting“DONALD TRUMP, RNC MIDTERM CONVENTION, DALLAS, SEPTEMBER 2026Merchants,In the 2nd week of September the President told a convention hall in Dallas that the United States is now more powerful than OPEC. On 10 September, drones hit pump stations on Saudi Arabia’s East-West pipeline in the Riyadh and Medina regions, and on the 11th the kingdom shut the line as a precaution (full
If China Refines The World Out Of This, Who Gets Paid? (opens the original)
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Merchants,Two events, one contradiction…Inside the US embassy in Muscat, American officials were reportedly trying to keep Yemen’s war from swallowing what remains of Red Sea shipping. On the other side of the oil market, traders delivered a harsher verdict. Asian diesel margins crossed $87 a barrel, New York diesel futures settled at an all time high and Saudi Arabia started rerouting crude through channels that get more complicated by the day. Brent, meanwhile, eased back toward $107 after tou
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