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January 2027 Brent crude prices declined slightly at the start of the week, while trading in the December 2026 Brent contract ended on Friday. Rory Johnston reported that the rolling prompt futures price appeared to face a sharp drop following the expiry of the December 2026 contract.
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Earlier, Rory Johnston noted a bearish divergence between the flat prompt Brent crude futures price and the corresponding timespread in a previous report. Following a recent downturn, he also observed that crude oil prices moved back into positive territory, suggesting continued volatility for the week in recent coverage. These observations provide context for the moves seen after the December 2026 contract expiry.