DUBAI MARKET REPORT
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Dubai rebounded after a sharp sell-off. Brent/Dubai strengthened on geopolitics, though higher prices have seen buying fade.
Open Hormuz, Close Hormuz
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...