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THE OFFICIALS

Premier provider of market commentary and price assessment for the physical and financial oil market

ABOUT THE OFFICIALS

The Officials bring you the unvarnished truth about what’s happening in markets, who is doing what, and what really matters.

We say it as we see it!

Jorge Montepeque – the creator of Dated Brent – leads the team in benchmarking key contracts, and its relentless hunt for the cold hard facts.

Subscribe for:

  • Twice daily reports on key market drivers and pricing
  • Weekly liquidity reports and quarterly traded volumes reports
  • Launching the Officials Brent Index on the Jakarta Futures Exchange – bringing market access to all
  • Regular analysts on Flux News shows

Latest reports

Diff gunning for it!

Edition: Euro EditionVolume: 3Issue: 11
The window goes ballistic and the physical differential sets a new record!
16 January 2026

Peering Eye 1.9

Edition: Peering EyeVolume: 1Issue: 9
The Peering Eye is expanding, folks, as the activity is rising in key shipping hubs!
16 January 2026

Dubai finds its pulse!

Edition: Asia EditionVolume: 3Issue: 11
The first positive physical premium for 2026 comes with the first convergence of the month in Dubai window!
16 January 2026

Subscribe to the Officials

A subscription to the Officials costs $200 a month or $2000 annually.

Credit card subscription will be available again from Monday 12 January 2026. Alternatively, please contact us to express your interest in subscribing.

Meet the Officials

Jorge Montepeque

Head of Benchmarking, Flux
Jorge Montepeque

Edward Hayden-Briffett

Research Analyst, Flux
Edward Hayden-Briffett

Will Cunliffe

Research Analyst, Flux
Will Cunliffe

Spyridon Kokas

Research Analyst, Flux
Spyridon Kokas

The Officials Archive

Don TACOs at the buffet

Edition: Euro EditionVolume: 3Issue: 10
Ship seizures, TACOS galore and more fugazi words.
15 January 2026

Soothe those itchy fingers

Edition: Asia Edition
No military action yet saw flat price fall dramatically. Meanwhile, oil demand is set to be driven by rising jet consumption.
15 January 2026

Reaching the crescendo?

Edition: Euro EditionVolume: 3Issue: 9
Sweet $66 is here, while the physical differential hit a new record high, flirting with $2!
14 January 2026

On the brink!

Edition: Asia EditionVolume: 3Issue: 9
Fears about an escalation of the Iranian tensions has sent Brent to new highs. Meanwhile, people are calling out the glut a myth
14 January 2026

Diff-erent gravy!

Edition: Euro EditionVolume: 3Issue: 8
Flat price hit fresh highs, while the physical differential broke to the highest level ever assessed by The Officials!
13 January 2026

Liquidity Report 2.2

Edition: Liquidity ReportVolume: 2Issue: 2
Volumes posting huge uptick week-on-week but are still down on a yearly basis.
13 January 2026

Playing battleships

Edition: Asia EditionVolume: 3Issue: 8
Ships are getting hit in the Black Sea and flat price breaks above $65 for the first time since early November!
13 January 2026

Bullying the bears!

Edition: Euro EditionVolume: 3Issue: 7
North Sea bull play had the whole market rallying. Fed independence is being questioned and the effect on oil in the long run can be bullish
12 January 2026

The Officials: Chaos corner to corner

Edition: Asia EditionVolume: 3Issue: 7
The weekend was full of speculation and one source expected spreads to rally today and they certainly did this morning.
12 January 2026

Futures volumes jump but year-on-year weakness persists

Edition: Liquidity ReportVolume: 2Issue: 1
Front-month futures volumes rose sharply as traders rolled positions, though activity remains deeply down year on year across contracts.
10 January 2026

Who doesn’t love a cheap meal?

Edition: Asia EditionVolume: 3Issue: 6
Cheap crude spurs Chinese buying, with higher Saudi allocations lifting Dubai benchmarks as volatility returns to oil markets.
9 January 2026

Scope expanded!

Edition: Peering EyeVolume: 1Issue: 8
In this edition we expand our weekly overview
9 January 2026

The Officials now trading on JFX

JFX information

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