DUBAI MARKET REPORT
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Latest
Renewed US-Iran hostilities lift front Dubai spreads out of contango; selling flows focused in Q4 Brent/Dubai
Hedge Of The Day
Brent/Dubai remains largely rangebound with no dominant market axe; Dubai spreads in deep contango
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.....
It’s Almost Too Quiet In Here…
Dubai stayed rangebound as EFS buying offset selling; contango and short pressure support upside in Brent/Dubai.
The Pressure of Impending Peace
Dubai collapsed on US-Iran peace hopes, while producer buying and short covering drove Brent/Dubai higher.
Dramatic Crossroads
Brent/Dubai rebounds to $5.50/bbl amid hedge buying flows on ADNOC tender; backend Brent/Dubai remains well offered
Du-buy Partials
Going into pricing, the physical support coincided with sudden strength in prompt Dubai spreads..
Back to December (2022)
M1 Brent/Dubai surpasses $5/bbl; good buying interest in screen and OTC; Brent/Dubai open interest stagnates
To Catch A Breakout
Bullish Brent/Dubai intact; deferred Dubai buying supports spreads, but front-end Brent/Dubai seen catching up higher.
Sluggish Dubai
Dubai crude choppy on Iran talks; front Brent/Dubai sold, deferred bid; physical premiums rebound despite thin liquidity
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
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...
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