Brent
Commentators focus on a divergence: refined products are extremely tight while crude, including Brent, has been notably weaker in the prompt, with term structure softness and even contango at times despite ongoing geopolitical risks 54. Patrick Ceresna highlights a sharp rebound, saying Brent has almost recovered to 100 after a 35% crude rally in three weeks and that oil vol remains well below prior spikes, enabling options strategies 1. Jeff(rey) Currie and Rory Johnston both stress that products, not crude, are setting the real signal; Johnston notes ~$79 Brent alongside seasonally extreme crack spreads, while Currie argues the “abundance illusion” from SPRs and substitutions is fading as the system enters a stretched second phase with low inventories and chokepoint risks 42. Anas Alhajji pushes back on permabull narratives, contending Brent around 75–85 reflects a temporarily balanced market after demand destruction from earlier price spikes, unless new chokepoint closures emerge 3.
From the window to Aug 1, 05:30 ET — this window's take is still to be written.
Where the voices land
All voices 3 voices2 bearish1 bullish
Bearish
- FCFiona CincottaBearish Brent gains are capped and prices have been pulled to a three-week low on optimism over Middle East supply recovery. “gains are capped for now, and that's owing to optimism surrounding a recovery in crude oil supplies from the Middle East” ▶ 0:03 Crude Oil’s Geopolitical Premium Fades as Middle… · 30 Sept
- RBRobin BrooksBearish Brooks argues the failure of Brent to break meaningfully above $100 even after the Saudi East-West pipeline was taken out shows the bullish case is running out of fuel. “if the front-month Brent price can't go meaningfully above $100 with the Saudi East-West pipeline getting taken out, what will make that happen?” Open the post The challenge for oil bulls is this: if the fron… · 19 Sept
Strongly bullish
- ABAmena BakrStrongly bullish Bakr expects Brent to keep climbing toward $100 a barrel. “Brent reaching for 100… why? Because despite flows recovering the risk is still high” Open the post Brent reaching for 100… why? Because despite flo… · 1 Oct
2 bearish1 bullish
Mentions
119 in September 2026Stories it travels in
i
The stories
- ○ a voice, on the left
- ◌ a voice raising half of these
- ● a subject, on the right, under its story
- ⌒ a line is a voice raising a subject — thicker, more items; colour is the story
The stories this entity travels in: on the right, each story with the subjects seen alongside it; on the left, the voices that raised them, and a line for every subject a voice raised, bundled by story. Tap a voice to light everything it raises, a subject for who raised it, a story for its own lines. The crumb goes back.
Who brings it up
- Anas Alhajji 26 mentions
- Walter Bloomberg 21 mentions
- Rory Johnston 17 mentions
- Robin Brooks 15 mentions
- David Lin 5 mentions
- Blake Morrow 5 mentions
- Josh Linville 5 mentions
- John Kemp 4 mentions
See what your own voices say about Brent, every morning.
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