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Fading Momentum

Brent flat price and spreads entering rangebound regime; persistent bullish momentum in RBOB futures; 3.5% barge crack hit inflection point
Published: April 21, 2026
Written by:
Martha Dowding

Martha Dowding

Research Associate, Flux
Martha Dowding
and
Vincent Wu

Vincent Wu

Research Associate, Flux
Vincent Wu
9 page report
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M1 Brent futures continues to trade below the $100/bbl mark, in the mid $90s. Price action remain anchored around recent Fibonacci levels.

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