Reports

Industry-leading market insights. Get daily, weekly and monthly reports from Onyx Research, featuring expert analysis and interactive graphs. ​

Naphtha & Gasoline reports

Please note that these reports will now be published every Thursday.

Trader Meeting Notes

Trader Meeting Notes: Bearish OP-EC-TICS

We began with yet another flat week in Brent, before prices broke into the $66/bbl handle on 29 May. This support emerged from a US Federal Court blocking President Donald Trump’s tariffs, including the pre- “Liberation Day” fentanyl tariffs on

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European Window cover

European Window: Brent Fall to $63.14/bbl

The Aug’25 Brent futures contract fell most afternoon to $63.14/bbl at 15:18 BST. Prices have risen slightly to $63.43/bbl at 17:40 BST(time of writing). In the news, the EIA reported that US crude inventories fell by 2.8 mb last week

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Gasoline report

Gasoline Report: Blender’s Delight

The past two weeks have lent uncertainty to gasoline, with price action moving sideways. Weakness filtered in due to a trade house selling physical barges, spelling a bearish play, and from the Dangote refinery’s RFCC unit returning to operation sooner

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CFTC Weekly cover

CFTC Predictor: Bulls in the Products

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

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European Window cover

European Window: Brent Below $65.00/bbl

The Aug’25 Brent futures contract slowly rallied up to $64.59/bbl at 14:35 BST before jumping up to $65.03/bbl at 16:43 BST. Prices have since come off to $64.65/bbl at 17:30 BST. In the news, OPEC+ has agreed to create a

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Technical Analysis report cover

Technical Analysis Report: Short and Sweet

M1 Brent futures continued to consolidate this week, seeing loose support at the 20-day moving average, which it is testing at $63.55/bbl on 27 May. Closing meaningfully below the 20-day moving average would be the first hurdle to the downside.

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European Window cover

European Window: Brent Recovers to $64.01/bbl

The Jul’25 Brent futures contract fell all afternoon to $63.53/bbl at 16:39 BST. Prices have slightly recovered to $64.01/bbl at 17:45 BST (time of writing). In the news, OPEC+ is expected to announce another oil output increase for July when

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Dated Brent report cover

Dated Brent Report – Back to Homeos-Dated

The Dated physical differential feels more supported after a choppy time last week, as it was not easily settled at the lower levels. There was strong buying in the front end, which allowed the differential to be priced at around

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Overnight & Singapore Window: Brent Sub-$65.00/bbl

The Jul’25 Brent futures reached over $65.30/bbl at 09:40 BST before softening to $84.85/bbl at 10:55 BST (time of writing). President Trump criticised Vladimir Putin following a record wave of Russian attacks on Ukraine, saying, “He has gone absolutely CRAZY!”

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European Window cover

European Window: Brent Rallies $65.01/bbl

The Jul’25 Brent futures contract initially dropped from $64.58/bbl down to $63.41/bbl at 13:10 BST. Prices then rallied all afternoon to $65.01/bbl but slightly came off to $64.72 at 17:15 BST (time of writing). In the news, US President Donald

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Fuel Oil report cover

Fuel Oil Report – High Sulphur Slips Lower

High Sulphur Fuel Oil contracts saw their huge rally come to an end this fortnight, and prices in both curves have softened over the past week. The Jun’25 3.5% barge rose to above flat, and was bid at +10c/bbl on

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