The Feb’26 Brent futures contract eased this morning, from $63.32/bbl at 17:40 GMT to $63.00/bbl at 10:00 GMT (time of writing). In the news, Turkey’s Maritime Affairs Directorate reported that the MIDVOLGA-2 vessel, a Russian-flagged tanker loaded with sunflower oil, was attacked by drones off the Turkish coast. According to maritime authority, the vessel was destined for Georgia, though the Tribeca shipping agency has claimed that it was bound for Mersin. At the moment, both authorities state that the vessel is en route to Turkey’s Sinop port; it is still unclear who attacked the ship. Elsewhere, Exxon Mobil has expressed interest in purchasing Russian oil major Lukoil’s stake in the Iraqi West Qurna 2 oilfield (470kb/d), according to Reuters. Lukoil’s 75% operational stake in the oilfield is its largest foreign asset, with potential buyers cleared by the US Treasury to engage with the Russian firm until December 13. Meanwhile, Kremlin spokesperson Dmitry Peskov has told Indian media that a decline in India’s oil imports from Russia may be short-lived, following Moscow’s plans to boost supplies to New Delhi. In Nigeria, local media have reported that the country tendered 50 oil and gas blocks in an effort to add 400kb/d to its production capacity. Nigeria is currently eyeing $10 billion in investments and aims to deliver 10bn barrels over the next decade. Finally, the front-month (Feb/Mar’26) and 6-month (Feb/Aug’26) spreads are at $0.38/bbl and $0.75/bbl, respectively.
