20 March 2025: 08:30 GMT
There were some funny goings on in the Dubai window this morning; there was a cross in the market between PetroChina and ADNOC. First, PC offered on $72.90, then ADNOC raised its bid to $72.90 too, but the two did not trade. Later in the window, ADNOC bid on at $70.92 but PC hit Vitol’s lower bid at $72.90. Why were PC and ADNOC crossing and not trading together? Repeated attempts to contact both companies went unanswered.
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).
For any comments, please reach out to us through the emails provided in the signed documents.
