Martha Dowding
Research Associate, Flux
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Mind the Gap
The Dated Brent physical strength collapsed last week. The paper market has been really gappy...
Published: October 20, 2026
Written by:
Martha Dowding
This week, the physical market was really interesting. We had previously seen the physical market a little propped up, but when Trafigura stopped buying on 16 Oct, Vitol aggressively offered, and the whole market melted. This led to a huge drop on 16 Oct: a $1/bbl drop in the weekly rolls, Nov'26 gapping down, and Nov/Dec'26 going negative.
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About Dated Brent Report
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