The Saudi bypass pipeline should be back to full flow around election week, which is when Washington’s reported timeline for renewed strikes on Iran begins, and the Brent futures curve is where those two dates collide.
ZMACRO WEEKLY · OIL SEPTEMBER 28, 2026 Oil, Hormuz and the Midterms: Trading Brent Calendar Spreads Saudi pipeline restoration and the post-election strike timeline land on the same contracts NOV 3 · MIDTERMS EXPIRES BEFORE THE VOTE TRADES THROUGH IT NOV 104.32 DEC 97.44 JAN 94.11 FEB MAR APR MAY JUN $6.88 NOV / DEC $3.33 DEC / JAN ’26 ’27 Dorian ICE BRENT CURVE, SEPT 25, 2026 CLOSE · $/BBL ZTRADER.AI RESEARCH ZMACRO Weekly · Oil Oil Prices, the Strait of Hormuz and the Midterms: How to Trade Brent Calendar Spreads The Saudi bypass pipeline should be back to full flow around election week, which is when Washington’s reported timeline for renewed strikes on Iran begins, and the Brent futures curve is where those two dates collide. By Dorian September 28, 2026 Donald Trump turned down Tehran’s seven-day offer to reopen the Strait of Hormuz on Saturday, and Brent opened the week back above
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