Market Insights
August 2026
Take a step back with our monthly chart pack, where analysts highlight the most important trends and visuals shaping the oil market.
Oil Narrative
Crude
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June GohSenior Oil Market Analyst
Introduction
The Strait of Hormuz reopening has flooded the market with prompt AG barrels, crushing crude premiums even as flows stay below pre-war levels. Saudi cut its August OSP by $11/bbl into Asia, Murban premiums fell more than $7/bbl vs Dubai in June and Djeno hit an all-time low of Dated -$14/bbl. Freight stays elevated, keeping landed costs high.
"Prompt barrels out of the SoH are depressing crude premiums, e.g. Murban premiums tumbled more than $7/bbl vs Dubai in June."
