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Heads of Desk: Top of Mind – Episode 62

The heads of Onyx Commodities' trading desks discuss the latest in the Oil Derivatives as of 25 August 2026
25 August 2026

Druckenmiller on Bessent, Gold Rally, Trump Escalates Canadian Trade War

Gold surges as China demand, Newmont soars 45%; Trump doubles Canada tariffs while Druckenmiller flags 30Y yield as fiscal check.
25 August 2026

LATEST REPORTS

Brent falls alongside Iranian-Omani plan to de-mine the Strait of Hormuz

Oman and Iran have agreed on a proposed framework to resume safe navigation through the Strait of Hormuz...
25 August 2026

The Big (Brent/Dubai) Short

Selling flows were concentrated in the Q4'26 region, and the bearish sentiment filtered into Sep'26....
25 August 2026

Dated Gets Dragged

Midland dominates Brent trade as Exxon, Shell, Totsa lift cargoes; PetroIneos-Totsa deal sparks bounce, but Chinese selling pressures curve.
25 August 2026

Brent drops $3.50 after new US sanctions

US tightens Iran sanctions, Ukraine hits Russian energy sites, while tanker strike raises Hormuz risk.
25 August 2026