Martijn Rats

Martijn Rats, Head of Commodity Research at Morgan Stanley, explains seaborne oil flows and why ships through the Strait of Hormuz matter for pricing. He discusses the scale of the seaborne market, how disruptions compare to past crises, regional workarounds like pipelines, SPR limits, and what would be needed to force demand cuts.

Martijn Rats, Head of Commodity Research at Morgan Stanley, analyzes energy markets and oil price dynamics. He discusses regional shortages from a closed Strait of Hormuz. He highlights price signals showing market stress. He outlines large-scale disruption measured in barrels per day and contrasts prolonged closure versus managed reopening scenarios.