Dubai Market Report: No Man’s Land
November 11, 2025
Volumes in the Dubai complex slipped into a lull this week, with Dubai spreads largely shadowing the weak Dated Brent narrative….
Reports
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Report Schedule Update
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.
Technical Analysis Report: Cracking On
November 11, 2025
9 page report
The M1 ICE LS gasoil swap crack remains extremely strong, creating new seasonal highs. The contract rose from $28.15/bbl lows on 04 Nov, failed to break out of the Bollinger band on 07 Nov, with a high of $34.15/bbl, and
Overnight & Singapore Window: Brent Supported at $64.40/bbl
November 11, 2025
5 page report
This morning, Jan’26 Brent futures slumped to $63.63/bbl at 07.48 GMT before strengthening to $64.43/bbl at 09.15 GMT, remaining around this level at 09.50 GMT (time of writing). Reuters reported that the Chinese refiner Yanchang Petroleum has suspended imports of
European Window: Brent Eases to $63.42/bbl
November 10, 2025
4 page report
The Jan’26 Brent futures contract eased this afternoon, from $64.10/bbl at 14:00 GMT to $63.42/bbl at 17:00 GMT (time of writing). In the news, Reuters reported that Russia’s Lukoil has declared force majeure at its Iraqi oil field, West Qurna-2
Naphtha Report: Feeling Lost
November 10, 2025
14 page report
The naphtha swaps market was relatively flat last week. Despite a general lack of direction, US sanctions on Russia have continued to support the swaps market as it searches for greater conviction. Nigeria’s Dangote refinery continues its maintenance, this time
Alpha Report: Bullish Undertones
November 10, 2025
9 page report
Another week brings another selection of new trade ideas from Flux Insights. This week, we look at trades in Gasoline and Crude.
CFTC Weekly: Ramping Up Risk in Gasoil
November 10, 2025
13 page report
ICE COT data for the week ending 04 Nov shows open interest falling for the second week, by over 75.8mb w/w (marking a 2.2% drop w/w). This suggests the market is still adjusting to the news from last week, with
Gasoline Report: How Much Longer?
November 10, 2025
14 page report
The gasoline complex continued to be very well supported this week, reaching new seasonal highs across European and Singapore benchmarks. The M1 RBOB swap crack rallied from finding support at the 50-day moving average at $14.00/bbl on 03 Nov and
Brent Forecast: 10th November 2025
November 10, 2025
View: Neutral-to-Bullish Target Price: $63-65/bbl The M1 Brent futures flat price contract found a floor below $63/bbl on 6 Nov and has since risen to $63.90/bbl at the time of writing on 10 Nov. Short-term technical movements hint at near-term
Overnight & Singapore Window: Brent Trades Flat to $64.04/bbl
November 10, 2025
5 page report
The Jan’26 Brent futures contract traded relatively flat this morning, from $64.22/bbl at 06:00 GMT to $64.04/bbl at 10:30 GMT (time of writing). In the news, Reuters has reported that Indian state refiners HPCL and MRPL have purchased 5mb of
European Window: Brent Eases to $63.58/bbl
November 7, 2025
4 page report
The Jan’26 Brent futures contract traded rangebound this afternoon, from highs of $64/bbl at 12:30 GMT to lows of $63.50/bbl at 16:00 GMT. Prices are at $63.58/bbl as of 17:30 GMT (time of writing). In the news, Reuters reported that
Overnight & Singapore Window: Brent Falls Back to $64.13bbl
November 7, 2025
5 page report
The Jan’26 Brent Futures rallied from $63.82/bbl at 08:30 GMT to $64.37 at 10:17 GMT. Prices then fell to $64.13/bbl at 10:33 GMT (time of writing). In the news, Gunvor has withdrawn its $22 Bn bid for Lukoil’s international business
European Window: Brent Weakens to $62.98/bbl
November 6, 2025
4 page report
The Jan’26 Brent futures contract weakened this afternoon, from $64/bbl at 13:00 GMT to $62.98/bbl at 17:00 GMT (time of writing). In the news, Reuters reported that Lukoil’s Volgograd refinery has halted operations after a Ukrainian drone attack in the
Trader Meeting Notes: I’ve Got My Eyes On You
November 6, 2025
16 page report
“On a scale of zero to 10, with 10 being the best, I would say the meeting was a 12” as Trump made his admiration for Chinese President Xi Jinping very clear last week. There was to be no Halloween
Overnight & Singapore Window: Brent Softens to $63.88/bbl
November 6, 2025
5 page report
The Jan’26 Brent Futures contract rallied this morning to $64.33 at 09:30 GMT before softening to $63.88/bbl ay 10:30 GMT (time of writing). In the news, India’s Reliance Industries is attempting to re-sell some Middle Eastern crude oil it recently