24 March 2025: 08:30 GMT
Shenanigans with one of the world’s benchmarks continue with PetroChina and ADNOC seemingly intent on destroying the reliability of the Dubai index. How can the number be trusted to be used as a benchmark to power the Saudi OSPs, Kuwait, and other Gulf producers when sellers offer Dubai below where buyers bid for Dubai? How can an inversion happen? You tell me, but this thing is broken and for it to break, one could question how in charge is the host of the wagering establishment. This mechanism is too important for no one to be in charge to ensure best market practices.
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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