Flux Markets | Which words to believe? 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.

Which words to believe?

Trump shoves words in Modi's mouth, Europe's anti-Russian crusade drives rotation and China's got even more conflicting signals
Published: February 4, 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 EditionVolume: 3Issue: 24
Share

Trump shoves words in Modi's mouth, Europe's anti-Russian crusade drives rotation and China's got even more conflicting signals

Trump is full of fantasies, like he claimed earlier to have fully destroyed Iran's nuclear capabilities and he sends an armada to do it again or as a stick to negotiate. And he also claims that India's Modi fully bent over and his country is no longer buying Russian oil. But there have been no indications about this wishy-washy claim, or at least no evidence yet. It looks like Trump’s forcing words into Modi’s mouth. Russians have also said, we don't know anything about it. A source with direct knowledge of the matter told The Officials that Indian state-owned companies are still waiting for direction on what to do. The longer nothing happens, the more likely nothing will happen.

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

Turning the risk down?

Conflicting messages from the US have created market uncertainty. Thus, we expect the CFTC COT report on 03 Apr to show....
8 page report
2 April 2026

Brent Rangebound at $108.86/bbl

Russia sends oil to Cuba; India cuts petrochemical taxes, Czech caps fuel prices, OPEC+ may boost output.
4 page report
2 April 2026

Brent Rallies To $108

Brent rallies by nearly $10 after Trump address to nation; Venezuela oil exports surpass 1mb/d; China exports rare crude cargo
4 page report
2 April 2026

More about
Donald Trump

Pendulum Swings

The closure of the Strait of Hormuz and disruption of feedstock flows have compounded supply tightness concerns in the Asian petrochemical..
17 page report
23 March 2026

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