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Heads of Desk: Top of Mind – Episode 50

The heads of Onyx Commodities' trading desks discuss the latest in the Oil Derivatives as of 02 June 2026
2 June 2026

S&P Reaches Highest Level On Record, Negotiations Break Down, Sulfur Prices Double

Stocks hit records on AI mania and crowded positioning, while oil, copper and refinery stress signal inflation risks.
2 June 2026

Latest reports

Brent Weaker at $96.50/bbl

Brent near $98 then $96; Russia output falls; fragile Israel-Lebanon ceasefire; China Iran imports down; BP North Sea deal fails.
4 page report
4 June 2026

Longs remain risk-on in RBOB

We still expect producers/merchants to be risk-off in US gasoline futures, though other reportable players are expected to be bearish...
8 page report
4 June 2026

Brent Climbs to $97.77/bbl

Brent nears $98 as Russian exports surge, Iraq reroutes crude, and inventories tighten before summer demand.
4 page report
3 June 2026

SP-R We Bullish Yet?

See all the updates across the barrel, as well as six contracts to watch.
6 reports
3 June 2026