Flux Markets | Brent Softens below $104/bbl Skip to main content

Brent Softens below $104/bbl

Meanwhile, in the US, the American Automobile Association expects a record 39.1 million people to travel by car over the upcoming....
Published: May 22, 2026
Written by:
Mita Chaturvedi

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi
4 page report
Share

This afternoon, Jul’26 Brent futures stood at $105.60/bbl at 12:30 BST, but sold down to $102.59/bbl at 14:12 BST. Prices met support here, briefly climbing to $104.67/bbl at 15:02 BST, but eased to $103.37/bbl at 17:40 BST (time of writing)....

A source in Islamabad reportedly told Iran's state news agency IRNA that Pakistan's Army Chief Asim Munir has left for Tehran. Separately, a Qatari negotiating team also arrived in Tehran on Friday to try to help secure a US-Iran deal to end the war. Meanwhile, in the US, the American Automobile Association expects a record 39.1 million people to travel by car over the upcoming Memorial Day holiday, despite gasoline prices sitting above $4.50/gal. However, this marks the smallest annual increase in more than a decade. According to a GasBuddy survey, only 56% of Americans now plan to drive more than 2 hours this summer, down from 69% last year, with cost the dominant travel consideration. Finally, at the time of writing, the front-month (Jul/Aug) and 6-month (Jul/Jan) Brent futures spreads are at $3.07/bbl and $16.80/bbl, respectively.

Related News

Brent Rebounds To $106/bbl

Brent rebounds to $106/bbl but on track for weekly decline; Middle East countries formally reject Iran's Hormuz toll system
4 page report

Brent Drops to $106.52/bbl

Brent falls to $106.5 as Hormuz permit fears, Iran uranium tensions and tighter supply risks shake markets.
4 page report

Anticipated fund selling in Brent

Flux Insights' ICE COT predictor anticipates a removal of net long managed-by-money positioning in Brent futures....
8 page report

Brent Climbs Above $106/bbl

The 11:26 surge dovetailed with news that Iranian Supreme Leader Mojtaba Khamenei has reportedly ordered that near-weapons-grade uranium....
4 page report