Dubai Benchmark Slips Into Contango For The First Time Since July
The curve of the Dubai benchmark is showing signs that rising oil flows from the Middle East are exceeding demand for the first time since early July, when the three-week U.S.-Iran ceasefire allowed millions of barrels to leave unhindered the Strait of Hormuz.
Physical flows have been gradually rising for the past two months as Gulf producers accelerated shuttle-shipping through Hormuz with ship-to-ship (STS) transfers in the Gulf of Oman, once tankers have cleared the chokepoint.
As a result, the November contract of the Dubai benchmark traded at the start of this week at a discount of about $2 per barrel to the December contract, traders and brokers told Bloomberg on Tuesday.
This price curve, known as contango, is the first sign since July that current supply is abundant in the Middle East.
The contango structure, in which prices for contracts dated further out in time are higher than the prompt contracts, suggests that concerns about the immediate lack of crude supply have eased significantly.
Rising supply from the Middle East has weakened both the Dubai and Murban prices in recent weeks, prompting increased buying from Asian refiners, especially those in India who have preferred additional Middle Eastern cargoes to the more expensive Russian barrels with higher freight costs.
At the end of last month, the prices of physical Middle East crude slumped as flows from the region recover and reach pre-war levels in some days and weeks.
In contrast with the international benchmark futures prices, the prices of physical crudes from the Middle East have softened, as oil continues to flow out of the Persian Gulf at volumes close to pre-war levels, excluding Iran.
Two weeks ago, robust crude oil flows out of the Middle East started to pressure the key metric of strength for physical supply out of the region. The premium of Oman crude over Dubai, the measure of the Middle East’s market strength, slumped to the lowest level since the end of July.
Source: https://freedombunker.com/2026/11/03/dubai-benchmark-slips-into-contango-for-the-first-time-since-july/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,837,080,930 |
| Stories: | 8,731,559 |
Whistler Blowers, Insiders
