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The heads of Onyx Commodities' trading desks discuss the latest in the Oil Derivatives as of 11 August 2026
Oil Near $90, European Heatwave May Wipe EU GDP Growth, Upcoming Data
Brent nears $90 as Libya attacks and weak Hormuz flows tighten supply; heat threatens EU growth, while Australia signals inflation risks.
LATEST REPORTS
$90/bbl resistance in Brent
Hormuz disruption deepens: Houthi and US strike tankers, ADNOC offers Iraq export route; IEA cuts 2026 demand forecast.
Brent Firms as Zawiya Oil Depot Partially Closes
Libya and Russia face fresh energy disruptions, while US pipeline investment strengthens West Coast supply resilience.
Gone with the (un)wind
However, Sep'26 and Oct'26 DFL have been more resilient amid a Singaporean player buying the Sep'26 DFL in good size....
Who Hit The Mute Button?
Dubai structure remains bid but range-bound, with strong Balmo and physical premiums offset by weak buying momentum and muted flows.