20 February 2025: 08:30 GMT
The same players came out for some more fun in Dubai today. Chevron resumed its offering, though was less interested in hitting bids. That role was taken up by Reliance, which hit both Vitol and PetroChina with aplomb. Others were hanging out in the window but kept their distance from the action: Exxon’s bids were low, while Shenghong’s offers were high, so neither got stuck into the meat of the matter. Indeed, it’s still rather quiet, with only 4 trades today and STILL no convergence! We’re getting withdrawal symptoms after Totsa’s antics in the previous three months. What can we say, we miss them!
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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