Tag

Calendar Spread

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ResearchGlobal2026-10-07

OPEC+ discipline underpins Brent calendar spreads as Asian light-sweet spot premiums diverge by region

Brent holds above $101 at the flat price, but the real pricing signal sits in the calendar spread (near vs far month). With OPEC+ holding cuts, the near-month backwardation discounts inventory holders; meanwhile ESPO, Dubai and Oman spot premiums in Asia are diverging by arrival timing, as India's and China's buying rhythms fall out of sync.