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Warsh Becomes Fed Chair as Rates Unanimously Held, Forward Guidance is Dead

Warsh's Fed turns hawkish, scraps guidance and revives uncertainty, triggering volatility across markets.
18 June 2026

Heads of Desk: Top of Mind – Episode 52

The heads of Onyx Commodities' trading desks discuss the latest in the Oil Derivatives as of 16 June 2026
16 June 2026

Latest reports

Strong Week for European Margins

Refinery Margins Report for the week ending 19 June
11 page report
22 June 2026

Can The Bulls Hang On?

Naphtha cracks reversed lower after midweek gains; trends remain bearish but weakening, with consolidation expected.
17 page report
22 June 2026

Summertime Strength 

Gasoline cracks rallied sharply, but persistent selling left positioning increasingly net short, raising short-covering risk.
14 page report
22 June 2026

Brent Eases Amid Signals of Progress between US and Iran

Brent slips below $80 as US-Iran talks progress; Russia exports fall, while China boosts Russian LNG imports.
22 June 2026