Edge Updates
Dated Brent Report – When The Music Stops
What goes up, must come down, and it really feels like we have reached an inflection point in Dated Brent, or inflexion point as the Americans spell it. As usual, it is all eyes on America, and what the changing political tides will mean for the oil market, geopolitics, and the financial markets at large. But that is a discussion reserved for Q4. The Dated Brent market is all about the here and now, and that is what we will focus on.
Dated Brent Report – The Fast & the Furious: Midland Drift
Sentiment in Dated Brent remained hopeful in the week leading up to the August Brent futures expiry and sustained this strength for a few days following expiry, after which things cratered very quickly.
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Dubai Market Report – Banks Just Can’t Get Enough (Of Brent/Dubai)
A fortnight of two halves in Brent/Dubai, encapsulating the market's duality in the year-to-date. The first week was relatively rangebound as prices hovered around -10c/bbl, with volumes low due to the US holiday. As Brent and WTI rallied, Dubai did not follow up as aggressively. This resulted in a massive rally where Aug jumped from -10c/bbl to +40c/bbl in a week, with the banks and funds being the buy-side aggressors.
Dubai Market Report – Not So Easy (OS)Peasy
It seems like the flipping of the calendar month has brought with it a debilitation of Dubai's strength. The prompt contract has returned to what would be arguably 'normal' positives, considering the makeup of the barrel.
European Window: Oct’24 Brent Rises Back Above $80/bbl
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