Dubai flips to contango; Diesel stays short to 2027 | 4 Nov
From The Spread: Daily Oil & Gas Briefing · 7:06
Show by Jaime Adroher
Dubai crude has slipped into contango for the first time since July as Gulf barrels pile up, even as the world stays short of diesel. Brent whipsawed on conflicting US-Iran peace headlines after Washington confirmed a strike on Qeshm Island. This episode is written with AI from public sources and read by an AI clone of Jaime's voice, not recorded by Jaime. Show notes link to every source. In this episode: - Dubai flips to contango - Diesel stays short to 2027 - US confirms Qeshm strike as Brent whipsaws - IEA sees gas tight into 2027 - Aramco profit up despite attacks - New Jersey warns ports off Russian diesel - Houthi ground raids into Saudi Arabia reported - Deals and data Full written brief: https://github.com/jaimeam/the-spread/blob/main/briefs/2026-11-04-public.md Sources: - OilPrice.com: https://oilprice.com/Latest-Energy-News/World-News/Dubai-Benchmark-Slips-Into-Contango-for-the-First-Time-Since-July.html - OilPrice.com: https://oilprice.com/Energy/Crude-Oil/Trump-Bombs-Iran-Talks-Peace-and-Sends-Oil-Prices-Tumbling.html - OilPrice.com: https://oilprice.com/Latest-Energy-News/World-News/Indian-Refiner-BPCL-Buys-US-WTI-Crude-Oil-Cargo.html - OilPrice.com: https://oilprice.com/Energy/Crude-Oil/Global-Diesel-Crunch-Set-to-Last-Well-Into-2027.html - EIA: https://www.eia.gov/todayinenergy/detail.php?id=68404 - Splash247: https://splash247.com/singapore-vlsfo-back-above-1000-for-first-time-since-march/ - OilPrice.com: https://oilprice.com/Energy/Energy-General/US-Launches-Secret-Strikes-on-Iran-Ahead-of-Midterm-Elections.html - OilPrice.com: https://oilprice.com/Latest-Energy-News/World-News/Brent-Flash-Crashes-6-Before-Rebounding-Towards-104.html - Rigzone: https://www.rigzone.com/news/wire/us_iran_restore_diplomacy_amid_limited_strikes-03-nov-2026-184996-article/?rss=true - OilPrice.com: https://oilprice.com/Latest-Energy-News/World-News/Hormuz-Oil-Flows-Unlikely-to-Return-to-Pre-War-Levels-Rystad-Says.html - OilPrice.com: https://oilprice.com/Latest-Energy-News/World-News/IEA-Warns-Global-Gas-Crunch-Could-Last-Well-into-2027.html - OilPrice.com: https://oilprice.com/Latest-Energy-News/World-News/US-LNG-Exports-Near-Record-High-as-Europe-Scrambles-for-Winter-Supply.html - OilPrice.com: https://oilprice.com/Energy/Natural-Gas/Iran-War-Doubles-Egypts-LNG-Bill-as-Gas-Output-Keeps-Falling.html - LNG Industry: https://www.lngindustry.com/liquid-natural-gas/03112026/adnoc-gas-signs-five-year-lng-supply-agreement-with-totalenergies/ - OilPrice.com: https://oilprice.com/Latest-Energy-News/World-News/Saudi-Aramco-Profit-Beats-Expectations-as-Oil-Prices-Soar.html - Rigzone: https://www.rigzone.com/news/wire/aramco_logs_9_pct_higher_profit-03-nov-2026-184994-article/?rss=true - OilPrice.com: https://oilprice.com/Energy/Crude-Oil/Why-Higher-Oil-Prices-Arent-Solving-Saudi-Aramcos-Biggest-Problems.html - gCaptain: https://gcaptain.com/new-jersey-governor-warns-ports-against-handling-russian-diesel/ - OilPrice.com: https://oilprice.com/Geopolitics/Middle-East/Houthi-Fighters-Launch-Ground-Incursions-Into-Saudi-Arabia.html - OilPrice.com: https://oilprice.com/Latest-Energy-News/World-News/US-Crude-Oil-Inventories-Still-in-Freefall.html - World Oil: https://www.worldoil.com/news/2026/11/3/shell-to-sell-north-west-shelf-lng-stake-to-adnoc-s-xrg-for-1-45-billion/ - Rigzone: https://www.rigzone.com/news/xrg_to_buy_shell_stake_in_australian_lng_project-03-nov-2026-184995-article/?rss=true - OilPrice.com: https://oilprice.com/Latest-Energy-News/World-News/CVR-Energy-Nears-4-Billion-Refinery-Deal-With-Marathon.html - World Oil: https://www.worldoil.com/news/2026/11/3/iraq-says-terms-agreed-with-chevron-on-west-qurna-2-contract-signing-targeted-before-year-end/ - World Oil: https://www.worldoil.com/news/2026/11/3/brazil-sets-second-straight-monthly-output-record-as-pre-salt-reaches-5-1-mmboed/
More episodes of The Spread: Daily Oil & Gas Briefing
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