Bloomberg Surveillance Bloomberg Surveillance TV: March 20th, 2026
14 snips
Mar 20, 2026 Terry Weisman, senior economist at Macquarie, gives market and bond commentary amid inflation and policy shifts. Lt. General Robert Walsh, former three-star and Navy strategist, explains amphibious capabilities and regional naval posture. Stephen Schork, energy market analyst, breaks down Brent vs WTI, Asia spot shortages and forward-curve dynamics. Short, punchy takes on oil, geopolitics and bond-market reactions.
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Brent Signals Real War Risk
- The Brent market reflects seaborne physical shortages and prices the real impact of Middle East conflict, while WTI prices optimism and US policy optionality.
- Stephen Schork highlights Brent's jump from a $5 to $13–$14 premium over WTI as evidence the war is far from over.
Avoid Oil Export Bans To Protect Production
- Avoid an export ban because it would build US inventories and choke off future production by leaving no outlet for incremental oil.
- Schork says the White House likely shelved the ban after industry warned it would be catastrophic for production.
Asia Shows Acute Physical Tightness
- There's a regional bifurcation: Oman/Dubai (Asia) show acute physical tightness, while Brent (Atlantic) appears relatively better supplied.
- Schork points to Dubai/Oman outrunning Brent as proof shortages are concentrated in Asia due to Hormuz disruptions.