| Month | Long | Short | Net | WACOG | MTM P&L |
|---|---|---|---|---|---|
| Jun-26 | 3.2M | -1.6M | 1.6M | $14.12 | +$208K |
| Jul-26 | 4.8M | -3.2M | 1.6M | $13.85 | +$412K |
| Aug-26 | 3.2M | -4.8M | -1.6M | $14.50 | -$128K |
| Sep-26 | 6.4M | -3.2M | 3.2M | $13.20 | +$1.6M |
| Total | 17.6M | -12.8M | 4.8M | $13.92 | +$2.1M |
Jun/Jul spread widened to $0.30 — above $0.25 threshold
11 Apr 08:42
Sep-26 net position at 80% of $4M limit
11 Apr 09:15
Shell Trading credit headroom below $25M threshold
10 Apr 16:30