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The Officials: Chaos corner to corner

The weekend was full of speculation and one source expected spreads to rally today and they certainly did this morning.
Published: January 12, 2026
Written by:
Edward Hayden-Briffett

Edward Hayden-Briffett

Research Analyst, Flux
Edward Hayden-Briffett
,
Will Cunliffe

Will Cunliffe

Research Analyst, Flux
Will Cunliffe
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: 7
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The weekend was full of speculation and one source expected spreads to rally today and they certainly did this morning, as the prompt Brent spread reached 57c at the Asian close. It peaked even higher at 61c, almost breaking to its highest of January!

Folks, it is a mess in every corner we look into. The biggest mess is in the US with the Fed's Jerome Powell subpoenaed. Trump said he knows nothing about it, which if taken at face value and one shouldn't he should be told, 'focus on your job, man rather than Iran, Venezuela or Greenland.' Markets are flashing red with gold spiking to record levels over $4,600 as the US currency is showing signs of an upcoming deep loss of value due to Trump's interference.

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