Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

In this list

DUBAI FUTURES: Intermonth spreads rangebound as physical trade trickles

Commodities | Energy | Electric Power | Nuclear | LNG | Natural Gas | Natural Gas (European) | Oil | Crude Oil | Refined Products | Jet Fuel | Coronavirus

Market Movers Europe, Nov 23-27: Fuel demand sees hope in vaccine, as continent endures power surplus


Platts Market Data – Oil

Electric Power | Renewables | LNG | Infrastructure Utilities

Caribbean Energy Conference, 21st

Agriculture | Sugar | Petrochemicals

Braskem and Haldor Topsoe achieve first production of bio-based MEG from sugar

Electric Power | Renewables | Natural Gas (North American) | Crude Oil | Steel | Petrochemicals

Commodity Tracker: 5 charts to watch this week

DUBAI FUTURES: Intermonth spreads rangebound as physical trade trickles

Singapore — Benchmark Dubai crude futures intermonth spreads were rangebound at noon on Oct. 27 as Asian refiners have mostly concluded their purchasing for the month.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

At 12 pm in Singapore (0400 GMT), the November/December timespread was pegged at a contango of 21 cents/b, widening 1 cent/b from the Asia close Oct. 26, S&P Global Platts data showed.

The December/January timespread was pegged at a contango of 21 cents/b, unchanged from the previous day's close, the data showed.

The spreads have eased from multi-week highs at the end of the week ended Oct. 24 as Asian refiners were heard to have mostly fulfilled their spot requirement for December-loading Middle East barrels.

With the emergence of additional demand seen earlier in October, some market participants expect the Middle East crude market to remain mostly supported for the remainder of the month.

The December-loading trading cycle will conclude on Oct. 30, the last trading day of the month.

"This month its a sellers' market for Middle East crude, not so many cargoes are showing [anymore]," said a North Asian crude trader.

The Brent/Dubai Exchange of Futures for Swap or EFS, meanwhile, was pegged at 24 cents/b at noon, just a cent/b wider than the 23 cents/b assessed at the Asian close on Oct. 26.

The EFS has narrowed to two-weeks lows in recent days as high crude supply in Northwest Europe on the back of a slowdown in European refining, continue to weigh on the Brent crude complex.