11 March 2025: 08:30 GMT
As Zelenskyy meets Rubio in Riyadh, the uncertainty that infected markets yesterday spread to oil, which fell at the Asian open to below $69. But it built back up steadily through the Asian session and closed at $69.56/bbl. What goes up must come down and what goes down must bounce on the dead cat. Brent still isn’t ready to fully relinquish its grip on the $70 level and climbed consistently to surpass it again at 10:30 GMT. The structure strengthened accordingly, with the front month spread bulking up to 54c – its strongest so far in March!
In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
We invite you to read our reports, which will initially be published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST).
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