Naphtha & Gasoline reports
Please note that these reports will now be published every Thursday.
This afternoon, the front-month Brent futures contract was initially rangebound between $68 and $68.40/bbl but softened further to $67.25/bbl at 16:40 BST. Prices found more support at this level and have since risen to $67.65/bbl at the time of writing
The Aug’25 Brent crude futures was stable and trading in a 40c range on Friday morning, supported above $68/bbl and printed $68.20/bbl at 11:30 BST (time of writing). Whilst prices have stabilised at this level, they are set for their
The world had its eyes glued to the price of Brent, and bam, just like that, the geopolitical risk premium is gone. There were vast escalations to be sure, including direct US involvement, but add a bit of nuance and
The Aug’25 Brent futures contract rallied all afternoon to $69.01/bbl at 16:28 BST but have since softened to $68.45/bbl at 17:30 BST (time of writing). In the news, Sierra Leone will decide on launching its next offshore oil and gas
The gasoline market saw a choppy fortnight amid sluggish fundamentals. Nonetheless, the Asian 92 complex has been more resilient than Atlantic Basin gasoline. In Europe, the Aug’25 EBOB crack endured a volatile stretch, pressured initially by EBOB/Gasoil stop-outs before rebounding
The Aug’25 Brent futures contract initially rallied to $68.45/bbl at 08:50 BST before falling to $67.72/bbl at 11:25 BST. Prices have since fallen further to $67.65/bbl at 11:25 BST (time of writing). In the news, according to the API, US
In addition to our regular Monday CFTC COT analysis report, Onyx Insight will publish its own in-house CFTC COT forecast ahead of the official Friday report. The model forecasts changes in long and short positions using machine learning, utilising Onyx’s
The Aug’25 Brent futures contract initially fell to $67.33/bbl before rallying up to $68.74/bbl at 17:31 BST (time of writing). In the news, Shell has entered early-stage discussions to acquire rival BP, according to a Wall Street Journal report citing
The Aug’25 Brent futures contract initially rallied to $68.45/bbl at 08:50 BST before falling to $67.72/bbl at 11:25 BST. Prices have since fallen further to $67.65/bbl at 11:25 BST (time of writing). In the news, according to the API, US
It was quite the turnaround in Brent this week. Markets did a quick 180 as Middle East tensions de-escalated following Iran’s telegraphed attack at a US military base in Qatar, in retaliation for American strikes against its nuclear sites. The
The Aug’25 Brent Futures contract initially rallied to $69.26/bbl at 14:08 BST but quickly fell off to $67.78/bbl. Prices have since fallen further to $66.93/bbl at 17:50 BST (time of writing). The drop in price comes after US President Trump
The M1 Brent futures contract opened at $70/bbl on 13 Jun and subsequently rallied to a peak of $81/bbl on 23 Jun, its highest level since January 2025. However, prices sharply sold off to $71/bbl on 23 Jun and retreated
The Aug’25 Brent Futures contract gapped down to $69.62/bbl at market opening and continued falling to $67.68/bbl at 07:43 BST before recovering to $69.86/bbl at 09:08 BST. Price have since come off to $69.49/bbl at 12:00 BST (time of writing).
In the week ending 17 June, open interest declined in the benchmark crude futures contracts (Brent and WTI futures). Brent and WTI futures saw a combined open interest dip of nearly 175mb (-3.55%) this week. Still, managed-by-money players were bullish
Another week brings another selection of new trade ideas from Onyx Research. This week, we focus on geopolitical risk and look at trades in Crude and Distillates swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on
