Reports

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

European Window: Brent Supported at $61.00/bbl

The Jul’25 Brent futures contract saw prices initially move up to $62.16/bbl at 14:09 BST only to quicky fall to $60.74/bbl at 15:04 BST. Prices have since gained some support at $61.37/bbl at 17:40 BST (time of writing). In the

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Overnight & Singapore Window: Brent Softens Below $62/bbl

The Jul’25 Brent futures contract softened this morning, declining from around $62.70/bbl at 03:25 BST to $61.70/bbl at 10:20 BST. At the time of writing (11:15 BST), the contract stands a little higher at $61.90/bbl. China is reportedly “evaluating” an

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Trader Meeting Notes

Trader Meeting Notes: Opaque OPEC

Down is up and up is down this week. Speculation has been wild about which way the collective OPEC thumb will point. The main victim in this has been Dubai crude, which has been under heavy pressure amid the likelihood

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European Window cover

European Window: Brent Above $61.00/bbl

The Jul’25 Brent futures contract saw prices rally from $59.42/bbl at 12:00 BST to $61.78/bbl at 15:42 BST. Prices have since fallen off and are at $61.01/bbl at 17:45 BST (time of writing). In the news, the US and Ukraine

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CFTC Weekly cover

CFTC Predictor: Drill Baby Drill

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: Brent Drops sub-$61.00/bbl

Jul’25 Brent futures saw heavy losses this afternoon, from $62.80/bbl at 16.35 BST to lows of $60.80/bbl at 16.55 BST before it retraced slightly to $61.30/bbl at 17.10 BST (time of writing). Reuters reported that Saudi Arabian officials are briefing

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Technical Analysis report cover

Technical Analysis Report: Slowing Down

The front-month Brent futures saw a bearish reversal over the past week, falling below $65/bbl by 29 April (time of writing). Price initially met with resistance against the Bollinger 20-day moving average and eventually tested successfully to the downside the

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European Window: Brent Drops to $63.10/bbl

The Jul’25 Brent futures contract saw a volatile afternoon, trading between $63.91/bbl at 13:02 BST and $63.10/bbl at 17:38 BST (time of writing). In the news, Scotland’s only oil refinery at Grangemouth has permanently stopped processing crude oil after 100

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Dated Brent report cover

Dated Brent Report – Marginal Disconnect

The Dated Brent market continues to drift lower, with the May’25 DFL falling from a high of over $1.40/bbl last Wednesday (23 Apr) to $0.70/bbl at the time of writing on 29 Apr. Simultaneously, the lower crude levels have supported

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European Window cover

European Window: Brent Falls to $64.37/bbl

The Jul’25 Brent futures contract initially rallied to $65.81/bbl at 14:30 BST before falling off to $64.37/bbl at 17:50 BST (time of writing). In the news, a massive power outage hit Spain and Portugal, disrupting flights, traffic, hospitals, and businesses.

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Onyx Alpha report cover

Onyx Alpha: Gearing up for Summer

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

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Naphtha report

Naphtha Report: Hitting a TOP-J?

The naphtha market flipped to seeing support following 10 Apr, with the front-month (May’25) NWE naphtha crack rallying from -$4.80/bbl on 8 Apr to -$3.35/bbl at the time of writing on 28 Apr. The soon-to-be M1 Jun’25 NWE crack climbed

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Overnight & Singapore Window: Brent Falls to $65.48/bbl

The Jun’25 Brent futures contract saw prices initially rally to $67.34/bbl at 07:12 BST before falling off to $66.48/bbl at 11:30 BST (time of writing). In the news, uncertainty over US-China trade talks and potential OPEC+ supply increase weighed on

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