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Dubai finds its pulse!

The first positive physical premium for 2026 comes with the first convergence of the month in Dubai window!
Published: January 16, 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: 11
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The first positive physical premium for 2026 comes with the first convergence of the month in Dubai window!

Finally, some positivity in Dubai, and of course with the Brent flat price rising to $64.50 and who knows, beyond! For the first time this year, the Dubai physical premium escaped contango, assessed at 1c today! Some traders are pointing to turnarounds as a reason for Dubai’s early year weakness, looking ahead to spring maintenance in Asia which should hurt demand.

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