22 April 2025: 16:30 BST
The US are feeling the strain as even Bessent reportedly said the tariff situation with China is “unsustainable” and he expects a tempering of hostilities. They haven’t caved in yet, but the cracks are beginning to show! He admitted the tariffs have suffocated trade potential so much that they operate effectively as an embargo and the markets liked it – rising from nearly $66.80 to $68 within half an hour! Equities liked it to and the S&P 500 surged 2.7%. But they quickly ran out of steam and fell back!
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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