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Picking up the pace!

Dubai sees more convergences, Brent is holding at $65-$66, all that while precious metals hit new all time highs!
Published: January 26, 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
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Dubai sees more convergences, Brent is holding at $65-$66, all that while precious metals hit new all time highs!

It’s getting choppy. A Dubai trader said, “[Feb] Brent/Dubai is swinging around like crazy… 7 am we were at 87, then rallied to 1.14 and then came back down to 92!” And now near $1.20. You can’t even take a view on fundamentals anymore! Brent/Dubai is up, despite news that the SPM3 is operational and has been loading ships, and that Tengiz has started a gradual resumption of production – all of which should have been bearish Dated/Dubai and Brent/Dubai too!

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