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New (Lunar) Year, New Dubai

Although we see good buying in Q2'26 and Q3'26 Brent/Dubai, flows in the front remain choppy amid an increasingly indecisive market...
Published: February 24, 2026
Written by:
Mita Chaturvedi

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi
and
Martha Dowding

Martha Dowding

Research Associate, Flux
Martha Dowding
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We're finally seeing liquidity in the Brent/Dubai market as players return from IE week and the Lunar New Year. This jolt of volumes brought with it strength, with the front-month Brent/Dubai spread breaking out of a $0.30/bbl to $0.90/bbl range in February and finally standing at $1.35/bbl at the time of writing on 24 Feb.

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