26 February 2025: 16:30 GMT
We’ve seen pancakes with bigger bumps than flat price today. Following yesterday’s collapse, Brent seemed to want a day to reset and allow some meetings to go ahead unperturbed by major market crashes or bounces. Maybe it went too far and actually ended the European session exactly where it was yesterday, at $72.83/bbl!
The North Sea window was almost as quiet as Dubai today. Only Mercuria rolled in to offer. Hey, if you buy a full VLCC’s worth of Midland in one window, you’ve got to offload it somehow… The offer of a 10-14 March at Dated +$1 didn’t attract any interest from lethargic buyers busy planning their next IE week outings.
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.
