Flux Markets | Finding a Line in the Surge Skip to main content

Finding a Line in the Surge

Brent & cracks surge on geopolitics; momentum strong but overbought. Upside targets near key resistance, downside risk if flows fade.
Published: March 3, 2026
Written by:
Donna Dong

Donna Dong

Research Analyst, Flux
Donna Dong
and
Martha Dowding

Martha Dowding

Research Associate, Flux
Martha Dowding
9 page report
Share

M1 Brent futures dropped to an intraweek low of $69.15/bbl on 26 Feb before seeing much more significant strength. Due to the escalation in the Israel-US war on Iran at the weekend, the contract gapped up over $4.00/bbl on 02 Mar and continues to be strong at $81.90/bbl at the time of writing.

Premium Content

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

Related News

Brent eases to low $96 handles

The front-month (Jun'26) Brent futures contract continues to face firm resistance at $100/bbl, as seen at 18:00 BST yesterday.....
4 page report

Money Managers Expected to Trim Longs

In line with this week's drop below $100/bbl, we anticipate a sharp liquidation of speculative net long positioning in Brent futures...
8 page report

Brent Falls to $97.92/bbl Post-Rally

Oil jumps on ceasefire news; IMF flags Asia risk; ARA stocks mixed, gasoil down; spreads widen as volatility persists.
4 page report

Brent eases below $96

The front-month (Jun'26) Brent futures contract climbed to a high of $96.80/bbl at 09:35 BST to $95.50/bbl at 12:15 BST, where it found....
4 page report