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Heads of Desk: Top of Mind – Episode 55

The heads of Onyx Commodities' trading desks discuss the latest in the Oil Derivatives as of 07 July 2026
7 July 2026

Samsung’s Extraordinary Profit Increase, FX Positioning Gets Crowded, COMEX

Strong earnings fail to lift stocks as positioning dominates; yields rise, USD longs crowd, and credit stress builds.
7 July 2026

Latest reports

Hedge Of The Day

Brent/Dubai remains largely rangebound with no dominant market axe; Dubai spreads in deep contango
7 July 2026

Slip & Slide

Physical crude stays weak with heavy selling, but stronger buying further along the curve points to better deferred support.
7 July 2026

Brent Rises as Saudi Arabia Considers Expanding East-West Pipeline

Saudi expands export options as Hormuz flows recover; India resumes Gulf crude, Japan clears stranded cargoes, SPR hits 1983 low.
7 July 2026

Bullish Cracks

Bearish crude momentum is fading as product cracks strengthen, with gasoline and gasoil leading while 92 East/West weakens.
9 page report
7 July 2026