23 April 2025: 16:30 BST
The avalanche accelerates! Reports that yet more OPEC+ members want to expedite the return of barrels from the June release precipitated a $1.50 flat price dump back towards the mid-$65 range. Stunned and perhaps slightly dizzy, Brent managed to re-find its feet and consolidated to close the European session at $65.64/bbl. If they’re worried about their revenues and selling at low prices, it’s odd they should reveal this now that prices were well down in the 60s. Kazakhstan opened Pandora’s Box!
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.
