24 December 2025: 12:30 GMT
As expected, the market was very quiet today and the European market feels sleepy, keen to get on with stuffing its face with turkey and prices dropped in the European morning, having climbed gradually through the Asian session. Backwardation is back in fashion, though, as all Brent futures spreads through 2026 are either backwardated or flat, recovering after last week’s dip where we saw all but the 2 most prompt spreads slip into contango. Today flat price traded in a tight range around the mid-$62 point, possibly as some traders rushed to get final Christmas gifts sorted
The Officials publish outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
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