The Dec’25 Brent Futures contract fell once again this afternoon, from $65.06/bbl at 12:00 BST to $64.38/bbl at 17:02 BST (time of writing). Reuters reported that India has likely exported the all-time high monthly volume of diesel to Europe in September. Volumes are estimated between 9.7mb/d and 10.4mb/d; this increase has been speculated to be due to higher premiums and capacity shortages during maintenance in Europe, incentivising Indian refiners to ship more fuel to the west. Following this surge, export volumes could decline as India is set to jump seasonally with the Diwali festival in late October. Elsewhere, Alberta has proposed a new oil pipeline to the British Columbia coast that could carry up to 1mb/d of crude oil for exportation to Asian markets. The proposal has met swift opposition, especially by the British Columbian government itself, which has historically opposed new pipeline building. In other news, Colonial Pipeline has shut down all three of its main delivery lines due to an outage that began around 10:00 BST today, two traders told Reuters. One trader said the disruption was linked to “computer issues.” Finally, the front month Nov/Dec’26 and 6-month Dec/Jun’26 spreads are at $0.27/bbl and $0.45/bbl, respectively.
