Independent Price Reporting Agency, QC Intel

Quantum Commodity Intelligence

Independent Price Reporting Agency

QC Intel

We are an independent price reporting agency (PRA) providing price assessments, original news and trade data for the global energy transition markets.

Our mission is to bring greater transparency to these rapidly developing markets, powering transactions and helping the world to decarbonize as efficiently as possible.

Commodities

<ul><li>Brent crude futures largely regained early losses after fresh Houthi attacks in Saudi Arabia, following Friday's G7 agreement to release up to 100 million barrels of oil, mainly diesel, into the market.</li><li>Front-month Dec26 ICE Brent futures were flat with Friday at $100.36/b (2222 BST), while Nov26 NYMEX WTI was at $89.30/b , down 2% versus Friday's settle.</li><li>Conflicting reports surfaced Monday saying Saudi Arabia's East-West pipeline was shut down again after fresh Houthi attacks.</li></ul>

Brent crude futures largely regained early losses after fresh Houthi attacks in Saudi Arabia, following Friday's G7 agreement to release up to 100 million barrels of oil, mainly diesel, into the market.Front-month Dec26 ICE Brent futures were flat with Friday at $100.36/b (2222 BST), while Nov26 NYMEX WTI was at $89.30/b , down 2% versus Friday's settle.Conflicting reports surfaced Monday saying Saudi Arabia's East-West pipeline was shut down again after fresh Houthi attacks.

Oil futures: Brent rebounds after Saudi attacks, G7 stock release

Independent Energy Equities & Commodities Research, WHB Energy Research LLC

William H Brown III

Independent Energy Equities & Commodities Research

Independent energy equity and commodity boutique

WHB Energy Research LLC

WHB Energy Research LLC is an independent energy industry equity and commodity boutique
providing analysis and trading/investment recommendations to hedge funds, mutual funds, oil
and gas producing companies, energy consuming companies and high net worth individuals.
WHB Energy Research LLC fills a major void by providing top level fundamental and
qualitative research complemented by state of the art quantitative modeling. WHB Energy
Research LLC also engages in physical oil trading activity as an agent/intermediary and also
provides expert witness consultation and testimony. From 2003-2005 Mr. Brown established and
managed an energy hedge fund for a single investor/client. Specialties: Economic and financial
analysis and forecasting of the NYMEX, ICE, and international physical petroleum markets and
energy equities in the integrated, independent producer, refining, drilling, service, and
transportation sectors.

<ul>
<li>News that the Saudi-backed Yemeni government has apparently regained “control” over the Bab al-Mandeb Strait led in large part to yesterday’s round of NYMEX “profit taking.”    </li>
<li>ULSD was the exception, however, as the news of the G7 crude oil and diesel release was largely discounted on Friday.</li>
<li>We see no evidence that there will be a diplomatic breakthrough between the U.S. and Iran, nor is there any indication that President Trump will launch strikes.             </li>
</ul>


News that the Saudi-backed Yemeni government has apparently regained “control” over the Bab al-Mandeb Strait led in large part to yesterday’s round of NYMEX “profit taking.”    
ULSD was the exception, however, as the news of the G7 crude oil and diesel release was largely discounted on Friday.
We see no evidence that there will be a diplomatic breakthrough between the U.S. and Iran, nor is there any indication that President Trump will launch strikes.             


Morning Market Notes: Attention Appears To Be Waning Regarding the U.S. And Iran...For the Moment

<ul><li>Crude oil futures were rowing back from the previous session's firm gains on Friday as increase in Middle East crude exports helped to offset the rise in geopolitical tensions.</li><li>Front-month Dec26 ICE  Brent futures were 0.1% lower at $102.20/b (1941 BST), while Nov26 NYMEX WTI was at $91.10/b , down 1.9% versus Thursday's settle, wiping out recent gains.</li><li>Both benchmarks had traded lower earlier before paring losses in late-day trading.</li></ul>

Crude oil futures were rowing back from the previous session's firm gains on Friday as increase in Middle East crude exports helped to offset the rise in geopolitical tensions.Front-month Dec26 ICE  Brent futures were 0.1% lower at $102.20/b (1941 BST), while Nov26 NYMEX WTI was at $91.10/b , down 1.9% versus Thursday's settle, wiping out recent gains.Both benchmarks had traded lower earlier before paring losses in late-day trading.

Oil futures: Crude lower as increased flows offset rising tensions

<ul>
<li>Once again, Iran has indicated it will not budge on its demands reiterated in its seven-day plan, which are effectively Tehran’s conditions itemized in the original MOU.     </li>
<li>There is no indication that President Trump is willing to accept Iran’s terms and has said he will make his decision whether to resume military strikes or not relatively soon.               </li>
<li>New Houthi attacks against Saudi Aramco energy assets, in addition to the above, all support our thesis for the fourth quarter.                </li>
</ul>


Once again, Iran has indicated it will not budge on its demands reiterated in its seven-day plan, which are effectively Tehran’s conditions itemized in the original MOU.     
There is no indication that President Trump is willing to accept Iran’s terms and has said he will make his decision whether to resume military strikes or not relatively soon.               
New Houthi attacks against Saudi Aramco energy assets, in addition to the above, all support our thesis for the fourth quarter.                


Monday Macro Update: A U.S.-Iran Deal Remains Quite Elusive At This Point

Decoding the Future of MENA Financial Markets, MENA Market Lab

Denis Collot

Decoding the Future of MENA Financial Markets

MENA Market Lab

Decoding the future of Middle East and North Africa Financial markets

Cross Asset Strategy

<ul><li>GCC sees record remittance outflows in 2025. Iraq devalues its currency by 15 %.</li><li>Saudi’s non-oil PMI rebounds strongly. Qatar partners with Euroclear for its local debt.</li><li>UAE, domestic credit grows at 15 % y/y in August.</li></ul>

GCC sees record remittance outflows in 2025. Iraq devalues its currency by 15 %.Saudi’s non-oil PMI rebounds strongly. Qatar partners with Euroclear for its local debt.UAE, domestic credit grows at 15 % y/y in August.

United States

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, also known as a fossil fuel, which means that it can't be replaced naturally at the rate we consume it and is therefore a limited resource.

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Crude Oil (CL1 COM COMDTY)

Oil futures: Brent rebounds after Saudi attacks, G7 stock release

Brent crude futures regained early losses after fresh Houthi attacks in Saudi Arabia, following Friday's G7 agreement to release up to 100 million...

Quantum Commodity Intelligence

Morning Market Notes: Attention Appears To Be Waning Regarding the U.S. And Iran...For the Moment

No new news on the U.S.-Iran front, with market participants concentrating on the "retaking" of the Bab al-Mandeb and the 100-million-barrel G7...

William H Brown III

Oil futures: Crude lower as increased flows offset rising tensions

Crude oil futures were rowing back from the previous session's firm gains on as increase in Middle East crude exports helped to offset the rise in...

Quantum Commodity Intelligence

Monday Macro Update: A U.S.-Iran Deal Remains Quite Elusive At This Point

Rhetoric from Iran confirms our long-standing thesis, i.e. we will believe a "deal" when we see it. Fourth quarter scenario remains plausible, with...

William H Brown III

Middle East FX, October 9nd 2026

GCC sees record remittance outflows in 2025. Iraq devalues its currency by 15 %. Saudi’s non-oil PMI rebounds strongly. Qatar partners with...

MENA Market Lab

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