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DUBAI MARKET REPORT

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Open Hormuz, Close Hormuz

Renewed US-Iran hostilities lift front Dubai spreads out of contango; selling flows focused in Q4 Brent/Dubai
14 July 2026

Hedge Of The Day

Brent/Dubai remains largely rangebound with no dominant market axe; Dubai spreads in deep contango
7 July 2026

Oil’s Quiet on the Eastern Front

We're currently nearing the bottom of recent ranges in the M1 Brent/Dubai, which makes it critical to monitor prices.....
30 June 2026

It’s Almost Too Quiet In Here…

Dubai stayed rangebound as EFS buying offset selling; contango and short pressure support upside in Brent/Dubai.
23 June 2026

The Pressure of Impending Peace

Dubai collapsed on US-Iran peace hopes, while producer buying and short covering drove Brent/Dubai higher.
16 June 2026

Dramatic Crossroads

Brent/Dubai rebounds to $5.50/bbl amid hedge buying flows on ADNOC tender; backend Brent/Dubai remains well offered
9 June 2026

Du-buy Partials

Going into pricing, the physical support coincided with sudden strength in prompt Dubai spreads..
2 June 2026

Back to December (2022)

M1 Brent/Dubai surpasses $5/bbl; good buying interest in screen and OTC; Brent/Dubai open interest stagnates
26 May 2026

To Catch A Breakout

Bullish Brent/Dubai intact; deferred Dubai buying supports spreads, but front-end Brent/Dubai seen catching up higher.
19 May 2026

Sluggish Dubai

Dubai crude choppy on Iran talks; front Brent/Dubai sold, deferred bid; physical premiums rebound despite thin liquidity
12 May 2026

Playing the Quiet Game

Brent/Dubai rose on hedging flows, then retraced on low volume; Dubai lagged, spreads steadier, and weak liquidity softened physical premium
5 May 2026

OPEXIT

In a move that wasn't very United of the United Arab Emirates, the nation announced it was quitting OPEC, highlighting the rising discord...
28 April 2026

The Oil Must Flow

Dubai crude sees bearish turn on ceasefire news; diverging flow between front and back-end Brent/Dubai; Dubai spread buying at $1/bbl
21 April 2026