21 January 2025: 08:30 GMT
The oil market is falling and heading to a first stop in the 77-78 level as it has become clearer that the new US administration does not want high prices. There is a risk prices may fall further as more members of the trading community say the shipping market is finding workarounds. Several freight indices have already fallen, compounded by the Houthis becoming less aggressive. As more oil can flow more easily, oil in floating storage can reduce, increasing supply and leading to lower prices. Talk of low 70s by Trump’s mid-term have already surfaced.
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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