Flux Markets | Brent Trades in $2 Range Skip to main content

Brent Trades in $2 Range

Brent volatile; Saudi reroutes exports, Asia shortages deepen, Bangladesh seeks waiver, China supplies region, spreads strong.
Published: March 30, 2026
Written by:
Donna Dong

Donna Dong

Research Analyst, Flux
Donna Dong
Reviewed by:
Mita Chaturvedi

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi
4 page report
Share

The Jun’26 Brent futures contract traded in a $2 range this afternoon, between $108.75/bbl at 14:50 BST and $106.73/bbl at 16:45 BST; prices are currently at $107.92/bbl at 17:10 BST (time of writing).

In the news, Saudi Arabia's Yanbu crude exports increased to approximately 4.6mb/d last week, approaching the facility's maximum capacity; this comes as the Kingdom reroutes shipments away from the Strait of Hormuz amid the US-Israeli conflict with Iran. In Bangladesh, the nation is seeking a temporary sanctions waiver from the US to enable the import of Russian diesel amid worsening energy shortages. Dhaka has asked for a waiver akin to India's, suggesting imports of up to 600kt of Russian diesel, according to energy ministry officials. The proposal is now awaiting a response from the US. In other news, Ukraine, which has begun accumulating gas reserves for the upcoming winter, is looking to boost LNG supplies via Greek terminals and the Vertical Corridor pipelines, according to Ukrainian energy company Naftogaz. In South Korea, Finance Minister Koo Yun Cheol has stated that the nation is weighing public driving restrictions if oil prices surpass $120/bbl. If this materialises, it will mark the first such restrictions in 35 years. Elsewhere, China has delivered cargoes of diesel and other fuels to Southeast Asia in recent days in a sign that Beijing seeks to alleviate the regional crisis and retain diplomatic leverage. This comes despite its earlier ban on fuel exports. Finally, at the time of writing, the soon-to-be front-month (Jun/Jul) and 6-month (Jul/Nov) Brent futures spreads are at $7.06/bbl and $23.40/bbl, respectively.

Related News

Hungry for Naphtha

Naphtha tight on Hormuz closure; cracks firm, E/W volatile, gasnaph down, pronap weaker, OI up, momentum mixed across spreads
17 page report

No-gas

Gasoline cracks correct lower; RINs strength support arbs; Players liquidating Apr'26 EBOB length
14 page report

June Brent at $107

Trump eyes Iran oil, EU/SK brace, Saudi boosts pipeline, Russia aids Cuba amid supply shocks
4 page report

US Risk Exodus

OI drops in WTI, RBOB and USLD with Brent spec more balanced
13 page report