Please note that there will be a hiatus in the publication of reports between 22nd December and 2nd January due to the Christmas period. Reports will be published as normal from Monday 5th January 2026.
Target Price: $67-69/bbl View: Bullish Following a weaker end to last week ahead of Sunday’s OPEC+ meeting, we expect the M1 Brent futures to see more support on low volatility and thin liquidity amid APPEC in Singapore this week, expecting
Nov’25 Brent futures opened higher overnight Monday, rebounding from $65/bbl levels and approaching $67/bbl, trading $66.74/bbl by 11:30 BST (time of writing). Prices rose despite the OPEC+ decision to raise output in October by 137kb/d, given that some members were
The Nov’25 Brent Futures contract dropped in just over a minute in a huge $0.65/bbl move down to $65.54/bbl at 13:53 BST. Prices continued falling throughout the afternoon and at 17:20 BST (time of writing) were trading at $65.16/bbl. The
Nov’25 Brent futures came off below $67/bbl on Thursday evening, falling to lows of $66.60/bbl. It has traded within a narrow 40c range, and as of Friday morning, is struggling to break back above $67/bbl. In the news, Ukrainian drones
The Oct’25 EBOB crack hit a contract high of $14.15/bbl on 04 Sep, lifted by strong RBBR and threats to supply security in Europe. Trade houses trimmed shorts as open interest exceeded the 5-year average, though some long entries may
Brent futures kicked off Sep filled with vigour, touching $69.55/bbl on 2 Sep, which ultimately met heavy sell-side interest. For the technical traders, 3 Sep printed a bearish Marubozu candle in the M1 futures contract,
Nov’25 Brent futures was fairly rangebound on Thursday afternoon, trading with a $1/bbl range between $66.30 and $67.20/bbl. $66.50/bbl appears to be a key short-term support level, with prices seeing support there on 26-27 Aug, where they also faced resistance
In the week ending 02 Sep, the M1 (Nov’25) Brent futures contract strengthened up to $69.50/bbl from the $67/bbl level. Prices edged higher as geopolitical risks came back into focus, where Ukraine continues to ramp up attacks on Russian oil
The Nov’25 Brent Futures contract initially rallied to $67.34/bbl at 09:22 BST, prices then fell to $66.80/bbl at 10:19 BST. At 11:10 BST (time of writing) prices trade at $66.86/bbl. In the news, Nigeria’s 650kb/d Dangote refinery has taken its
The November Brent Futures contract has seen a mixed afternoon session, initially rangebound between $67.70/bbl and $68.20/bbl before rallying to $68.33/bbl at 17:00 BST and subsequently falling to $67.90/bbl at the time of writing (17:15 BST). In headlines, Donald Trump
Despite hitting a high of $69.25/bbl this morning, the Nov’25 Brent futures contract has weakened since, falling below the previous day’s support level of $68/bbl, where it briefly regained support,
M1 Brent futures have largely traded between $67 and $69/bbl over the past week. Prices attempted to break above $69/bbl on 2 Sep. Immediate resistance is at $69/bbl, aligning with last week’s highs and July congestion zone. The next level
The Dated Brent market saw a volatile week, with the North Sea physical differential falling negative for the first time since May. There was a supply glut in the front, with WTI Midland cargos struggling to clear. However, the start
The front-month (Nov’25) Brent futures reached a low of $68.06/bbl at 14.00 BST and strengthened to $69.10/bbl at 17.25 BST (time of writing). Saudi Arabia is issuing new dollar Sukuk bonds, with five- and 10-year maturities, to help cover a
The November Brent Futures contract has seen a strong morning, rallying from $68.50/bbl at 08:00 BST to $69.37/bbl at the time of writing (11:30 BST). In headlines, the UK government, while sticking to its pledge not to issue new oil
