25 March 2025: 08:30 GMT
Once again in the Dubai window, ADNOC and PetroChina crossed in ways that defy market logic! ADNOC was bidding $74.67 while PetroChina hit Vitol’s bids at $74.65. And by the way for anyone here, these crosses not only mess up the physical cost to billions of consumers and large producers BUT also affect the values of the balmos. All the derivative pricing is unclear. This has not been a one off but the bid/offer crosses are distorting the balmos since March 7th. This is unprecedented!
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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