The Feb’26 Brent futures contract has traded relatively rangebound this afternoon, between the $62.80/bbl and $63.00/bbl handles. Levels are at $62.81/bbl at 17:00 GMT (time of writing). In the news, Reuters reported that Iraq has halted all oil production at
View: Bearish Target Price: $61-63/bb Critical Resistance Ahead The M1 Brent futures contract remains rangebound between $62 and $63/bbl, with a strong resistance level at the 50-day moving average (blue line on the chart below). Despite the bullish optics of
The Feb’26 Brent futures contract has eased this morning, from $63.93/bbl at 07:30 GMT to $63.25/bbl at 10:00 GMT (time of writing). In the news, Platts has announced that, beginning 15 December for cargoes and 02 January for barges, any
Money managers trimmed length in gasoil futures for the second consecutive week, as long positions fell by nearly 18mb (-13%). Short positions also declined slightly by 3%, indicating a risk-off week. As a result, the long:short ratio fell from 2.41:1.00
The Feb’26 Brent futures contract failed to maintain strength above the $64.00/bbl handle this afternoon, easing from $64.08/bbl at 15:30 GMT to $63.60/bbl at 16:30 GMT (time of writing). In the news, local Russian emergency centres have reported a fire
The Feb’26 Brent futures contract closed above the $63/bbl handle on 04 Dec, where it continues to stand. We saw resistance at $63.40/bbl at 09:30 GMT this morning, with subsequent support at $63.10/bbl at 10:20 GMT.
M1 Brent futures fell into yet another lull, with the 50-day moving average still acting like a brick wall for more than two months now. On the products side, CTA net positioning in ICE gasoil and CME heating oil has
The Feb’26 Brent futures contract rose this afternoon, from $62.57/bbl at 14:40 GMT to $63.50/bbl at 16:50 GMT. In the news, the Trump administration has approved transactions with Lukoil gas stations outside Russia, issuing a narrow waiver to the sanctions
The Feb’26 Brent futures contract remains highly rangebound. Price action continues to encounter resistance above the $63/bbl threshold, although support is seen at $62.75/bbl. At the time of writing at 10:00 GMT, the contract stands at $62.85/bbl…
In the week ending 02 Dec, M1 Brent futures saw almost no net change. The contract closed at $62.50/bbl on 25 Nov, reached $63.75/bbl on 01 Dec, and fell to close at $62.45/bbl on 02 Dec as volatility stagnated, and
The international propane market has held up w/w, although price action was shakier at the beginning of December. The Jan’26 Mont Belvieu TET propane swap contract (C3 LST) initially weakened to a low of 63.825c/gal on 25 Nov
The Feb’26 Brent futures contract initially rose from $62.77/bbl at 14:10 GMT to $63.29/bbl at 16:00 GMT, before falling to $62.68/bbl at 17:00 GMT (time of writing). In the news, Reuters has reported that remote-controlled Ukrainian explosives have struck the
The Feb’26 Brent futures contract has risen this morning, from $62.42/bbl at 06:00 GMT to $63.17/bbl at 10:00 GMT (time of writing). In the news, peace talks between the US and Russia failed to deliver a breakthrough, as Russian President
The Feb’26 Brent futures contract failed to maintain strength above $63/bbl this afternoon, declining from $63.06/bbl at 13:00 GMT to $62.21/bbl at 14:55 GMT. Prices then recovered to $62.83/bbl at 16:30 GMT (time of writing). In the news, Besiktas Shipping,
The North Sea physical differential climbed around $0.70/bbl this week, a significant shift from the negative diffs at the start of November. However, last week’s buy-side bias **has now turned shakier.** We saw a trade house sell-side of Dec weekly
