Will Cunliffe
Research Analyst, Flux
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Away from the desks
Everybody is busy partying and flat price is doing its own things!
Everybody is busy partying and flat price is doing its own things!
The party is on and the price is ebbing and flowing but holding relatively steady. Flat price is holding near $69 as many market participants worry more about grabbing canapés and exchanging business cards like Pokémon collectors. Brent was in a tight range between $68.80 and $69.40, reaching the European close at $68.87/bbl. It’s the prompt spread that looks particularly strong today, reaching a peak of 77c, though it fell back through the day to 70c at the close. Even as videos have been circulating on X of powerful explosions in Iran, this is either old or fake to create a feeling in the country, and the oil traders know better and price remained sleepy.
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