Martha Dowding
Research Associate, Flux
Brent/Dubai to 15-Month Highs
Brent spreads surge as Dubai stays weak. Brent/Dubai box hits Oct ’24 highs, strong buying persists, curve well bid, trend entrenched short
This week saw a fairly similar theme to the previous. This was incredible strength in Brent spreads and DFLs, with Dubai weaker. The physical pricing in Dubai has remained extremely weak, ranging from -50c to -30c in the Jan/Feb '26 Dubai spread.
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