Flux Markets | Now you see me, now you don’t! Skip to main content

The Officials reports are now published exclusively on officialsbenchmarks.com. Current subscribers to the Officials will be able to log in there automatically to access their content.

Now you see me, now you don’t!

Tensions with Iran could escalate as we head into the weekend. All that whale Indian Oil Corp is getting more crude and Reliance sticks to R
Published: January 23, 2026
Written by:
Will Cunliffe

Will Cunliffe

Research Analyst, Flux
Will Cunliffe
,
Edward Hayden-Briffett

Edward Hayden-Briffett

Research Analyst, Flux
Edward Hayden-Briffett
and
Spyridon Kokas

Spyridon Kokas

Research Analyst, Flux
Spyridon Kokas
Reviewed by:
Jorge Montepeque

Jorge Montepeque

Head of Benchmarking, Flux
Jorge Montepeque
Edition: Asia Edition
Share

Tensions with Iran could escalate as we head into the weekend. All that whale Indian Oil Corp is getting more crude and Reliance sticks to Russian!

The market is getting hot! As we speak, Brent flat price is back above $65, and the prompt spread is flirting with 80c! the Persian Gulf is looking very hot right now. The US has sent the Abraham Lincoln aircraft carrier from Asia in the direction of the Persian Gulf (soon to be name American Gulf ll, just kidding). The aircraft carrier and its many companion support ships went dark about three days ago. but based on its last know location and normal to fast speed the carrier is less than a day out from the Gulf of Oman.

Premium Content

To continue reading this page, please login or find our about our subscription options.

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.

We invite you to read our reports, which are published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST). For any comments, please reach out to us through the emails provided in the signed documents.

Related News

Brent Rallies to $92.43/bbl

Total evacuates staff from Basra Iraq at 17:00 GMT (time of writing).
4 page report
6 March 2026

Brent Recovers to $83.80/bbl

Slovakia may boost Russian gas as EU prices surge; Qatar warns Iran conflict could halt Gulf exports
4 page report
6 March 2026

Funds Bearish in Products

Specs add Brent longs, cut shorts on geopolitics; bearish in products as producers hedge and cut risk.
8 page report
5 March 2026

More about
Donald Trump

Who’s keeping count?

Edition: Euro Edition
Quiet North Sea, jumpy flat price and loudmouth Trump all in one day!
13 February 2026

Guess who’s back!

Edition: Asia Edition
OPEC rumours regarding the supply gun came out and flat price took a hit. Meanwhile, India's Russian appetite is still a question
13 February 2026

Red is the colour of the day

Edition: Euro Edition
The market is getting crushed left and right folks!
12 February 2026