Jorge Montepeque
Head of Benchmarking, Flux
Quarterly Volumes Review – Q3 2025
Oil-derivatives trading fell year on year in Q3, signalling a shift toward longer-term, fundamentals-led positioning.
In this quarterly review We document a pronounced decline in traded oil-derivatives volumes to 232 bn bbls, versus 258 bn bbls in the same period a year prior, despite broadly stable open interest, and interpret this as evidence of a shift toward longer-duration, fundamentals-anchored speculative positioning, and away from headline driven reactive position taking.
Premium Content
To continue reading this page, please login or find our about our subscription options.
The Officials publish outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
We invite you to read our reports, which are published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST). For any comments, please reach out to us through the emails provided in the signed documents.
More News
Brent Trades in $64/bbl Handle
Mar’26 Brent traded in $64/bbl. Lukoil asset sale deadline extended, Dardanelles reopened, US manufacturing data
4 page report
Diff gunning for it!
Edition: Euro EditionVolume: 3Issue: 11
The window goes ballistic and the physical differential sets a new record!
Peering Eye 1.9
Edition: Peering EyeVolume: 1Issue: 9
The Peering Eye is expanding, folks, as the activity is rising in key shipping hubs!