The Mar’26 Brent futures contract has risen from $62.26/bbl at 13:35 GMT to $63.76/bbl at 17:00 GMT (time of writing). In the news, the US has seized the Olina tanker in the Caribbean, which was flying a false flag of
The Mar’26 Brent futures contract reached $62.83/bbl at 07:30 GMT this morning before falling to $61.85/bbl at 09:40 GMT. Prices have since recovered to $62.16/bbl at 10:40 GMT (time of writing). In the news, US President Trump has cancelled a
Geopolitics dominated the newscycle but has been tentatively shrugged off by the market. The US government said on Wednesday it will call the shots on big decisions in Venezuela and control its oil sales indefinitely after ousting President Nicolás Maduro.
In the week ending 06 Jan, the M1 Brent futures contract declined from highs of $62.33/bbl on 31 Dec to a low of $60/bbl on 02 Jan. From here, prices recovered to $61.80/bbl on 05 Jan before dipping to close
The Mar’26 Brent futures contract climbed from $60.75/mt at 11:45 GMT to $61.27/bbl at 14:35 GMT, where it briefly met resistance and eased below $61/bbl, before recovering to $61.35/bbl at 17:30 GMT (time of writing)….
* **Venezuelan news dominated sentiment in the HSFO complex.** Given the expectations of greater volumes of heavy sour crude directed towards US Gulf Coast (USGC) refiners, this has greatly weighed on barge cracks. The M1 Feb’26 3.5% barge crack fell
The Mar’26 Brent futures contract has risen this morning, from $60.09/bbl at 06:25 GMT to $60.48/bbl at 10:00 GMT (time of writing). In the news, Venezuela’s state-owned oil company PDVSA says that it is in talks with the US for
The Mar’26 Brent futures contract traded rangebound this afternoon, easing slightly from $60.87/bbl at 13:20 GMT to $60.08/bbl at 17:10 GMT (time of writing). In the news, the US has seized a Russian-flagged tanker after tracking it for over two
The Mar’26 Brent futures declined below $61/bbl into Tuesday evening and opened lower on Wednesday, trading in a range between $59.90 and $60.40/bbl, printing $60.34/bbl at 17:30 SGT (time of writing). Support has been reinforced at the $60 psychological level,
Cargo buying appetite returned to the Dated Brent market in the new year, following a bout of two-way flow to mark the end of the year….
The Mar’26 Brent Futures contract fell to $61.27/bbl at 15:07 GMT before rallying to $61.90/bbl at 15:44 GMT. Prices have since fallen to $61.23/bbl at 17:30 GMT (time of writing). In the news, Phillips 66 can process Venezuelan crude at
It has been an extremely bearish start to the year for the Dubai crude complex, with the forward curve flirting with contango the entire time. The monthly Dubai spreads have weakened to -10c/bbl at one point, but seems unable to
The M1 Brent futures contract grinded lower throughout the beginning of last week, printing three consecutive lower closes between 30 Dec and 02 Jan. Prices tested the extremely critical $60/bbl psychological support level on 02 Jan before bouncing off to
Mar’26 Brent futures slumped to around $61.30/bbl at 08.28 GMT after moving around $61.60/bbl overnight. The contract then reached $62.15/bbl at 09.02 GMT and softened to $61.93/bbl at 10.10 GMT (time of writing). The Trump administration is expected to hold
Naphtha cracks in the East and the West weakened at the end of 2025, extending the weakness into the new year. The M1 NWE naphtha crack dropped from a high of -$4.20/bbl on 22 Dec to -$5.65/bbl at the time
