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.

Brent Forecast Review: 17th February 2025

Brent rally? Aaaaaand it’s gone. Brent crude futures is on track to see a small gain w/w, as the Apr’25 contract rose from $74.50/bbl on 17 Feb to $77/bbl by 20 Feb before correcting lower to $75/bbl by 16:00 GMT

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LNG Market Report: Geopolitical Risk Discount

The Mar’25 TTF futures contract rallied to over €58/MWh on 10 Feb, its highest level since January 2023, amid greater withdrawals from European gas storage and colder weather, but it has since retraced to €47.50/MWh on 20 Feb. The soon-to-be-prompt

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European Window cover

European Window: Brent Strengthens to $76.80/bbl

The Apr’25 Brent Futures contract was rangebound this afternoon, trading between $76.25/bbl and $76.60/bbl until around 16:00 GMT, after which it rallied to $77.02/bbl, where it sits at the time of writing (17:20 GMT). EIA statistics highlighted a 4.63mb build

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Trader Meeting Notes

Trader Meeting Notes: The Waiting Game

Front-month Brent futures has been more supported this week. We initially oscillated between $74 and $75/bbl before breaking into the $76/bbl handle. The $77/bbl handle remains a critical resistance level, which the M1 futures contract is now flirting with at

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CFTC Weekly cover

CFTC Predictor: Bears Step In

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 Trades Down To $76.25/bbl

After the Apr’25 Brent futures rose from $76.30/bbl at 1300 GMT this afternoon to a weekly high of almost $76.80/bbl at 1440 GMT, before falling down to $76.25/bbl at 1735 GMT Overall, crude oil prices have been supported on fears

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Dated Brent report cover

Dated Brent Report – All Eyes On Midland

This week, we have seen a good example of the dichotomy between Brent’s futures and the physical market that underpins it. In the physical, it seems that the market has found a floor this week. Equinor and Gunvor were running

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European Window cover

European Window: Brent Fluctuates Around $75/bbl

The Apr’25 Brent futures flat price saw a choppy afternoon, swinging by a dollar from $76 to $75/bbl before rising to $75.70/bbl by 17:00 GMT. According to a Bloomberg report, privately-run terminals in China, particularly in Shandong, Yangshan, and Huizhou,

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Onyx Alpha report cover

Onyx Alpha: Arb We There Yet?

Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in gasoline, NGL, and distillates swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft

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Gasoline report

Gasoline Report: Volatility Dials Down

The Mar’25 RBOB futures contract has consolidated in the $2.10/gal region and is supported by the 34-day moving average. It may find resistance at $2.17/gal, a high seen in October 2024 and January 2025. Momentum is neutral, while Onyx’s CTA

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