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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

Feast from the East

Asian propane strengthened on tighter spreads and recovering PDH rates, while volatile US exports drove mixed signals.
17 page report
3 June 2026

Brent Rallies Towards $99/bbl

Brent rallies to $99 on escalating Middle East hostilities; Russia's Ilsky refinery hit by Ukrainian drone attack
4 page report
3 June 2026

Brent Rises Above $95/bbl

Brent rises above $95 as Hormuz flows resume, while China draws inventories and Venezuela boosts exports.
4 page report
2 June 2026

Grinding Lower

Physical weakness, a wider downtrend, but July paper buying
2 June 2026