Regional pricing dynamics shifted to contango as of November 1, 2026.

The entities involved

• Dubai →

  most populous city in the United Arab Emirates and the capital of the Emirate of Dubai

  • Lerch Bates provided expertise for the Burj Khalifa in Dubai and Taipei 101.Wed 20:50
  • Retaliation attacks caused fires in Dubai and targeted GCC states following recent strikes.Wed 19:21
• Brent →
  • Oil flows through the Strait of Hormuz as geopolitical risks in the Middle East affect oil prices, with Iraq ready to resume production.01:30
  • Nigerian oil exporters are seeking demand in East Asia, with Forcados competing against dated Brent grades.00:44

Related events

• Brent crude prices are now dictating the flow of foreign capital in global markets.Nov 2
• Tensions in the Middle East are causing oil price volatility, leading to a plunge in Brent crude futures.Jul 28
• The Bank of Japan assumes Dubai crude prices will fall from $105 to $70 due to Middle East costs.Oct 31
• Crude price rise, driven by US-Iran tensions and fears of Strait of Hormuz disruption, is affecting overall market sentiment and banking stocks.Jul 21
• Brent price increases are raising local production costs in South Africa, prompting commentary from Investec economists.Oct 29