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Trying to beat Contan-Congo

Brent nears $70 as crude weakens, but strong refining margins and heavy shorts raise risks of a sharp squeeze.
Published: July 2, 2026
Written by:
Martha Dowding

Martha Dowding

Research Associate, Flux
Martha Dowding
,
Mita Chaturvedi

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi
,
Vincent Wu

Vincent Wu

Research Associate, Flux
Vincent Wu
and
Donna Dong

Donna Dong

Research Analyst, Flux
Donna Dong
Reviewed by:
Giovanni Simonetti

Giovanni Simonetti

Junior Data Analyst, Flux
Giovanni Simonetti
16 page report
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The game is gone. Having had the synonym page for 'weak' open, it's hard to find the right word for the floor dropping out of the market this week.

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Our reports are now part of The Officials, and available exclusively on the Flux platform. Existing customers can Login to Flux to access them, or you can visit The Officials to sign up for free trial access.

Written by

Martha Dowding

Research Associate, Flux
Martha Dowding

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi

Vincent Wu

Research Associate, Flux
Vincent Wu

Donna Dong

Research Analyst, Flux
Donna Dong

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