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Tag: spikes

Close-up view of ancient Roman silver coins showcasing detailed engravings and historical significance.

Silver Prices Surge Past $121 as Structural Deficit Sparks Liquidity Crisis

https://www.steelldy-indices.com The silver deficit is intensifying, with demand exceeding supply for the sixth consecutive year. According to the Silver Institute, the global market is expected to face a supply deficit of 46.3 million ounces in 2026, bringing the total deficit since 2021 to a staggering 762.1 million ounces. This persistent shortage is notable despite a…

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A dimly lit TotalEnergies gas station at night in Nairobi, Kenya, featuring prominent signage.

Refiner Margin Squeeze and the 3:2:1 Crack Spread Signal: Technical Analysis with Focus on TotalEnergies (as of mid-June 2026)

Executive Summary The 3:2:1 crack spread serves as a primary proxy for gross refining margins, calculated as: 3:2:1 Crack Spread=2×PGasoline (bbl)+1×PDistillate/Heating Oil (bbl)−3×PCrude (bbl)3\text{3:2:1 Crack Spread} = \frac{2 \times P_{\text{Gasoline (bbl)}} + 1 \times P_{\text{Distillate/Heating Oil (bbl)}} - 3 \times P_{\text{Crude (bbl)}}}{3} where prices are typically futures-settled (e.g., WTI/RBOB/NYH HO for USGC benchmarks; Brent equivalents or regional baskets for Europe).…

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