DUBAI MARKET REPORT
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Latest
It was an extremely quiet week leading up to today. Over the past 4 days, we have really only seen the front Brent/Dubai move lower....
Accumulation
Poor liquidity in Dubai crude complex amid Chinese holiday; Brent/Dubai finds support at lows
Dubai’s 24-Hour Conviction Bug
Dubai spreads spiked on Chinese tender rumours, then faded; Brent/Dubai weakened as physical premiums also retreated.
Chop & Noise Precedes Noise & Chop
Dubai physical premium slips from $29.97 to $18.04/bbl; paper market thin and choppy amid low liquidity; Chinese selling, deferred rolling.
Fundamentals vs Financial Flows
Continued strength in Dubai crude given geopolitical escalations in the Middle East; however, downside is limited...
Bal-Royale
Dubai physical exceptionally strong, with Chinese buying and firm distillates driving bullish sentiment.
Brent/Dubai Slip ‘N Slide
Dubai premium jumps to $15.81 as Chinese buying dries up offers; Brent/Dubai crashes below $2 amid heavy selling; desk stays bearish.
The Big (Brent/Dubai) Short
Selling flows were concentrated in the Q4'26 region, and the bearish sentiment filtered into Sep'26....
ADNOC Shock
Dubai spreads strengthened, while Brent/Dubai fell amid mixed flows. Trade-house selling may cap gains, but $4 support could hold.
Who Hit The Mute Button?
Dubai structure remains bid but range-bound, with strong Balmo and physical premiums offset by weak buying momentum and muted flows.
Open Interest, Closed-off Sentiment
Open interest in the Sep'26 Brent/Dubai contract surges above all-time highs, but liquidity is poor, with low volumes driving price action..
Red Sea Blues
Despite the bullish headlines, Saudi oil continues to flow, keeping the bullish Dubai sentiment in check...
You Could Hear a Pin Drop
Dubai rebounded after a sharp sell-off. Brent/Dubai strengthened on geopolitics, though higher prices have seen buying fade.