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Heads of Desk: Top of Mind – Episode 48

The heads of Onyx Commodities' trading desks discuss the latest in the Oil Derivatives as of 19 May 2026
19 May 2026

UK Data Disappoints, US Adds 9.9mb of SPR Oil, New Zealand to Cut Jobs

UK jobs weaken, US yields hit 2007 highs, equities slide, SPR releases surge, NZ cuts public sector jobs.
19 May 2026

Latest reports

Brent Rangebound at $110.93/bbl

Brent holds above $110 as Iran tensions rise, tanker storage builds, and India delays jet fuel price hikes.
4 page report
19 May 2026

Bids on a Platter

North Sea crude strengthened as Vitol/Shell bid cargoes. Paper stayed offered
19 May 2026

To Catch A Breakout

Bullish Brent/Dubai intact; deferred Dubai buying supports spreads, but front-end Brent/Dubai seen catching up higher.
19 May 2026

Fading Strength

Brent and refined product markets remain broadly rangebound with fading trend strength and compressing momentum
9 page report
19 May 2026