29 September 2025: 16:30 BST
The glass ceiling of $70 is unbreachable! It would take firing a real rocket, Tomahawk maybe 🤣, up Brent’s backside to get above that point, as we remain stuck in the $65-70/bbl range, now dropping to $2.91/bbl by the European close. That’s down almost 3 bucks from Friday’s Europe close – welcome to the pain cave! Nov EFPs even dropped into pricing negatively this afternoon ahead of expiry, to the surprise of an experienced trader who couldn’t recall having seen that before.
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