The impact of First Republic Bank deposits on Crude prices and caution urged in Mill margin trades due to tough market conditions

The latest episode of "Freight Up" our freight and commodities market podcast provides more insights into the current state of the market, from our various desks. This week our correspondents offer updates on various commodities, including crude, oil, steel, ferrous and fertilizer. As always, they're offer our listeners analysis and advice to help traders make informed decisions.One key takeaway from the episode is that crude oil prices have dipped below $81 per barrel due to the impact of the First Republic Bank run. However, the API's weekly oil inventory report has provided some support, and traders should keep an eye on the market for any changes.Another important point discussed in the episode is that steel prices have dropped recently, with scrap markets down about 29.5-30 bucks since the start of the month and rebar's down 50. The fertilizer market is tough right now, with mill margin trades not exactly recommended due to market conditions. However, prices have been on the uptrend lately, and volatility is expected to decrease soon. Buyers of fertilizer might want to wait it out a little for better prices.Finally, the high sulphur euro crack is currently under supply tightness due to the lack of Russian high sulpher fuel supply post-sanctions. Traders should keep an eye on this market for any changes.Overall, the episode provides valuable insights into the commodities markets and offers analysis and advice to help traders make informed decisions. Whether you're a seasoned trader or just starting out, this episode is definitely worth a listen.Key points you'll hear covered in this episode:

• Crude prices have dipped below $81 per barrel due to the impact of the First Republic Bank run, but the API's weekly oil inventory report has provided some support. Keep an eye on the market for any changes.
• Steel prices have dropped recently, with scrap markets down about 29.5-30 bucks since the start of the month and rebar down 50.
• The fertilizer market is tough right now, with mill margin trades not recommended due to market conditions. However, prices have been on the uptrend lately, and volatility is expected to decrease soon.
• The high sulphur euro crack is currently under supply tightness due to the lack of Russian high sulphur fuel supply post-sanctions. Keep an eye on this market for any changes.
• Buyers of fertilizer expect better prices if they wait it out.