Reports

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European Window: Brent Trades Flat At $73.90/bbl

May’25 Brent futures initially saw weakness this afternoon, declining from $73.80/bbl around 1300 GMT down to $73.23/bbl shortly after 1340 GMT, however, recovered to $73.90/bbl by 1735 GMT (time of writing). In the news today, President Zelenskiy said Russian artillery

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CFTC Weekly cover

CFTC Predictor: Bulls Gain Momentum

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 Trades At High-$73/bbl Handles

The May’25 Brent futures contract traded sideways this afternoon, increasing from $73.60/bbl at 1230 GMT up to $74.15/bbl at 1550 GMT, before declining to $73.65/bbl at 1735 GMT (time of writing). Crude oil prices have fluctuated as Russia and Ukraine

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LPG Report: Bulls Come Back

The major propane benchmarks were ultimately supported in the fortnight ending 26 Mar as we saw increasing strength in crude oil prices…

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Technical Analysis report cover

Technical Analysis Report: Buying Pressure

M1 Brent futures swiftly bounced higher last week, climbing from the $70/bbl handle to open at $73/bbl on 25 March. On 24 March, prices closed above the 30-day moving average (white line), which has now flipped from resistance to support

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European Window: Brent Weakens To $72.85/bbl

The May’25 Brent futures contract reversed this morning’s gains, falling from $73.55 around 1345 GMT down to $72.50/bbl at 1620 GMT, inching up to $72.85/bbl by 1755 GMT (time of writing). Crude oil prices have seen a downward correction this

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Dubai report

Dubai Market Report – Maximum Pressure

The weakness we have seen in the Brent/Dubai complex in recent months has continued, with the Apr’25 contract steadily declining from around -$0.90/bbl on March 11 to -$1.35/bbl by March 20. This downward trend accelerated sharply on the morning of

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Onyx Alpha: Tactical Trading

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

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European Window cover

European Window: Brent Trades At High $72/bbl Handles

May’25 Brent futures initially dipped from $72.60/bbl at 1200 GMT down to $72.15/bbl shortly after 1300 GMT. Flat price then strengthened to this afternoon’s high of $73.15/bbl at 1610 GMT, moderating to $72.85/bbl by 1745 GMT (time of writing). In

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CFTC Weekly: Length Returns to Crude

In the week ending 18 Mar, combined open interest (OI) across both Brent and WTI futures increased more than 3x the previous week. Combined OI rose by 71.8mb (+1.66% w/w). This is the largest increase in OI for Brent +

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Brent Forecast: 24th March 2025

The May’25 Brent crude futures opened on 24 March above $72/bbl, marking its highest level traded since the start of March. Prices were supported last week as the US sanctioned a Chinese teapot refiner for the first time as it

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