17 October 2025: 05:30 BST
Happy Diwali, everyone! India might be celebrating but the mood is souring folks, from East to West structures are getting hammered. “You can see the panic in the Brent spreads… the market is bailing aggressively” said one trading source. “There is also buying at the back… that’s killing the structure”, said another, who pointed to massive consumer hedging, especially from airlines. But the front is getting sold into too, just look at the prompt Brent spread, down at 15c by press time.
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