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The Daddy of all Deals!

A mega deal makes everyone happy! Dubai gains some ground and Kuwait has big oil plans...
Published: 3 February 2026
Edition: Asia EditionVolume: 3Issue: 23
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A mega deal makes everyone happy! Dubai gains some ground and Kuwait has big oil plans...

The greatest deal! If the EU can make the mother of all deals with India, the US can make the big daddy deal! Powers now court India with love and devotion. They all want to give a deal. But they also want things back. In Trump’s world, this means India will stop buying Russian oil and replace it with Venezuelan under US custody. Of course, Modi wouldn’t directly address the question of Russian oil and the Kremlin spokesman said Russia has heard no such comments from India. The oil market didn’t really react, as Brent ebbed along lazily through the Asian session, reaching the close at $66.11/bbl, before a post-window drop had it down 80c – which was quickly recovered.

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The Officials publish outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.

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About Asia Edition

Benchmark reports published at the close of the trading day in Singapore.

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