Market Overview

Brent crude opened Week 22 at $97.78/bbl, plunging 5.56% on Monday before rebounding to $95.90 mid-week and settling near $94.56 by week's end. The persistent US–Iran negotiation deadlock kept risk sentiment elevated, but failed to prevent a net weekly decline of 3.3%. Physical commodity buyers faced heightened volatility, underscoring the importance of agile procurement strategies in a shifting geopolitical environment.

Key Market Themes — Week 22

  • US–Iran Deadlock: Iran's insistence on gaining control over the Strait of Hormuz and full sanctions relief remained non-starters for Washington, stalling any progress on a nuclear deal. The White House's public dismissal of a reported draft agreement reinforced market perceptions of entrenched geopolitical risk, which continued to support a premium in Brent despite the weekly price slide.
  • Crude Selloff & Mid-Week Recovery: Monday's sharp 5.56% drop reflected a wave of profit-taking and technical liquidation as speculative longs unwound positions amid growing doubts over a US–Iran breakthrough. Prices partially recovered toward $95.90 by mid-week on renewed geopolitical jitters but faded again as physical demand signals remained subdued.
  • Refined Product Spreads: The turbulent flat-price action saw EN590 diesel crack spreads in ARA initially widen as prompt supply concerns flared, before compressing into the weekend alongside crude's continued decline. Jet A-1 differentials in Singapore and the Middle East mirrored this volatility, with cracks briefly strengthening on mid-week risk-off flows, then narrowing as end-users retreated to the sidelines.
  • Forward Curve Signal: The consensus Brent forecast rising from $105.57 to $120.25/bbl over the next four quarters signals that physical cargo buyers should anticipate higher replacement costs in Q3 and Q4. Despite current softness, forward prices reinforce the need for proactive hedging and flexible sourcing strategies to manage potential upside risk.
Skyra CIP Platform Intelligence — Week 22
Week 22 volatility spurred a notable uptick in EN590 and Jet A-1 deal activity on the Skyra platform, with buyers seeking to lock in volumes ahead of further swings. The balance of bids and offers shifted in favour of sellers as end-users prioritised supply security — register for full access to live deal flow and market analytics.

Active Verified RFQs — Week 22

The following deals were active on the Skyra CIP marketplace during 25–31 May 2026. All participants have completed KYC verification.

Commodity Type Price Volume Location
ULSD EN-590 50ppm ARA Region CIF ARA Sell Offer $1,198 /MT 80,000 MT NLRotterdam
EN 590 10ppm Türkiye FOB Aliağa Sell Offer $1,246 /MT 25,000 MT TRAliağa
Zinc China / Australia CIF Guangzhou Buy Request $3,540 /MT 3,000 MT CNGuangzhou
Gold Switzerland EXW Zurich Sell Offer $4,553 /oz t 100 oz t CHZurich
Copper Chile / Zambia LME Warrant Sell Offer $14,234 /MT 1,000 MT GBLondon
Jet A-1 UAE FOB Fujairah Sell Offer $1,324 /MT 15,000 MT AEFujairah
Zinc Australia / Peru LME Warrant Sell Offer $3,530 /MT 1,500 MT GBLondon
EN 590 10ppm North Sea Refineries DAP Hamburg Buy Request $1,217 /MT 40,000 MT DEHamburg
Gold United Kingdom EXW London Vault Sell Offer $4,556 /oz t 200 oz t GBLondon
Cobalt Congo (DRC) FOB Dar es Salaam Sell Offer $34,088 /MT 50 MT Lubumbashi
Nickel FOB Sell Offer $19,019 /MT 300 MT NLRotterdam
Jet A-1 CIF Buy Request $1,295 /MT 20,000 MT SGSingapore
Gold Europe / Middle East DDP Dubai Buy Request $4,485 /oz t 50 oz t AEDubai
EN 590 10ppm Türkiye FOB Aliağa Sell Offer $1,246 /MT 25,000 MT TRAliağa

See also: EN590 price · Jet A-1 price · Bunker fuel price · Brent crude price

Disclaimer: The information contained in this publication is provided for informational and general market intelligence purposes only. It does not constitute, and should not be construed as, financial, investment, legal, or professional advice of any kind, nor a solicitation or recommendation to buy or sell any commodity, security, or financial instrument. Past price movements and deal flow patterns referenced herein are not indicative of future results. Skyra CIP makes no representation or warranty, express or implied, as to the accuracy, completeness, or timeliness of the information provided. Readers should conduct their own due diligence and consult qualified professional advisers before making any commercial or investment decision. Skyra CIP and its affiliates accept no liability for any loss or damage arising from reliance on the contents of this publication.