Ranges, 80%centred on the last close, no direction
| Market | Last | 1 day | 5 days | 21 days | Regime |
| BrentNYMEX BZ, $/bbl | 104.77 | 101.11–108.56 | 96.50–113.75 | 88.45–124.10 | volatile |
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| WTINYMEX CL, $/bbl | 96.46 | 92.96–100.09 | 88.71–104.88 | 80.87–115.05 | volatile |
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| ULSDNYMEX HO, $/bbl | 185.71 | 179.41–192.23 | 171.37–201.25 | 156.17–220.82 | volatile |
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| RBOBNYMEX RB, $/bbl | 139.10close 30 Oct | 135.50–142.81 | 131.02–147.68 | 122.36–158.14 | normal |
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| Diesel crackHO − Brent, $/bbl | 80.94 | 75.86–86.01 | 69.28–92.60 | 56.24–105.63 | volatile |
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| Gasoline crackRB − Brent, $/bbl | 21.46close 30 Oct | 18.90–24.03 | 15.75–27.18 | 10.07–32.86 | volatile |
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| Henry HubNYMEX NG, $/MMBtu | 2.856 | 2.748–2.968 | 2.620–3.114 | 2.378–3.430 | normal |
| Held 2012–26 | | 79.2–80.8% | 78.4–80.6% | 77.2–80.6% | |
Decisionsillustrative inputs
Gasoil 10 ppm · 35,000 t · Mina Al Ahmadi
Sell now, or store 7 days at Fujairah?
- Sell nowreference
- Store 7 days, sell spot · unhedged−$428k80% −$4.07M to +$3.35M
- Store 7 days, sell forward today · hedged−$429k80% −$514k to −$344k
Recommended Sell now, measurable edge
Jet A-1 · 60,000 t FOB Mina Al Ahmadi
Sell FOB now, or deliver CFR Rotterdam via the Cape?
- Sell FOB nowreference
- Deliver CFR Rotterdam, priced on arrival · unhedged−$44k80% −$16.77M to +$17.95M
- Deliver CFR Rotterdam, sold forward today · hedged−$44k80% −$392k to +$305k
Keep Sell FOB now, no measurable edge in expected value, lower risk
CDU-2 Mina Abdullah · 180 kb/d · one week
Which crude slate this week?
- Arab Light 100%$16.64/bbl80% 5.32–28.07
- Basrah Medium 70% / Arab Light 30%$17.00/bbl80% 5.90–28.23
- Basrah Medium 100%$17.16/bbl80% 6.06–28.37
Keep Arab Light 100%, no measurable edge
Alertssince last close
- RegimeBrent Regime normal → volatile
- MissBrent −7.63% on the day, outside yesterday's 99% range of −5.41% to +5.71%
- RegimeWTI Regime normal → volatile
- MissWTI −7.36% on the day, outside yesterday's 99% range of −5.91% to +6.28%
- RegimeULSD Regime normal → volatile
Curvessecond month less first
- Brent−3.07$/bbl, backwardation
- WTI−1.66$/bbl, backwardation
- ULSD−3.68$/bbl, backwardation
- RBOB−2.47$/bbl, backwardation
- Henry Hub+0.49$/MMBtu, contango
07:00 briefe-mail and WhatsApp
- CrudeBrent 104.77, −7.63% on the day and outside yesterday's 99% range. Regime now volatile.
- GasoilSell now. Storing 7 days nets −12.23 $/t in a backwardated curve.
- JetNo measurable edge between FOB and CFR Rotterdam. FOB carries less risk.
- CDU-2No measurable edge between slates. Keep Arab Light 100%.