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Shorters squeezed caught with pants down

The UT was downward suggesting net selling into the close of almost 500,000 shares. So on balance I'd say a lower opening if there's no positive news overnight.

Red sea also now a target for Iran. Gas fields at risk.

The shorters have a huge interest in further falls.

News needed 🤓👆

EasyJet has fallen to 3 year low. Sector being ravaged.

Shorters have wrestled it back by down. But maybe someone is buying too looking at the rise this morning.

Crack spreads are key metric airlines watch.

Jet crack vs Brent Normally: $15–25/bbl Now: $65–100+

Jet vs gasoil Normally: ±$20/t Now: +400–500/t

Prompt vs swap Normally: small Now: huge backwardation

Meaning: refiners can’t meet jet demand; traders bidding for prompt barrels; swaps still assume disruption temporary

Creeping up more like! More of a factor for us Wizzers is the supply of aviation fuel in Europe.

✈️ European jet fuel swap / futures curve (Platts CIF NWE)

Recent CME swap quotes for jet cargoes CIF Northwest Europe:

Mar 2026: ~796 $/t

Apr 2026: ~793 $/t

May 2026: ~790 $/t

Jun 2026: ~789 $/t

These are financial swap prices, not physical spot, and are still below current spot because the market is in strong backwardation (near-term shortage).

🔥 Spot / prompt market (physical) much higher

Argus assessment (12 Mar 2026):

CIF NWE jet fuel:

$1,646 / tonne (record high)

Premium to Brent: ~$109/bbl

Premium to gasoil: > $500/t

That spread is enormous and signals a genuine product squeeze rather than crude-oil driven pricing.

Iran’s Foreign Minister Abbas Araghchi says that the strategically vital Strait of Hormuz remains operational for international shipping, but vessels linked to the United States and Israel are not permitted to pass through the waterway.

According to All India Radio News

He's apparently threatened to bomb the oil infrastructure on Kharg island if Straits threat not removed. Supposedly already attacked the military infrastructure.

80 to 90% of Iran oil exports depend on this one island. High stakes game.

Topped up earlier today and got my average down to £11.84. Crazy times.

Saudi Arabia can redirect about 5 million barrels/day (up to ~7 million in theory) to the Red Sea via pipeline, but real-world export capacity is often lower due to port and shipping limits.

Brent is out benchmark. $99.7 now, still a lot of fear priced in.

Saudi Arabia utilising it's mammoth pipeline to the Red Sea and global reserves released. Much will depend on Europe's pecking order re jet fuel supplies if this drags on.

Jet2 down over 4%

I suppose hedging doesn't help if supplies cannot be secured.

With roughly 30% of Europe’s jet fuel imports normally coming from the Gulf, blocked tanker traffic has turned aviation fuel into the tightest refined product.

Alternative suppliers from China, South Korea, India, and the US remain locked into regional markets, leaving Europe exposed to both soaring prices and the risk of outright jet fuel shortages.

Dividend reduced to 4 to 4.6p from next year. Gulp.

It's possible the Straits are pre-mined. Remotely detonated or triggered by specific sonar patterns. The shipping lanes are only 2 miles wide

I imagine mine search/clearance operation already underway hence the delay

@Midastouch2015 The 3 month average volume is 951,000 shares, not 2.2m

Yes it's been higher in the last week but over the period the shorts have built, it's less than 1 million average. So the impact you mention will potentially be even greater?

The threshold was crossed on 3rd March when price was c.1100p

Presumably they were hoovering up shares being sold by shorters and panic sellers.

That's very encouraging. Plus whoever took on Indigo's 10%?

Institutions gonna put pressure on the shorts as they build stakes from here.. I wonder what % we LTHs on this LSE board hold 🤓🥰✈️

Wizz now FTSE #1 shorted stock. Overtaken Greggs. Almost 13m shares lined up to be bought back - with a shortage of sellers. Massive correction coming due to short squeeze.