Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in crude oil, gasoline, and naphtha swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven
The week ending 25 Mar saw a net increase of length in the crude futures benchmarks (Brent and WTI) as money managers accelerated their purchases. Crude prices strengthened as the front-month Brent futures contract bounced up from $70/bbl levels and
The May’25 Brent futures contract weakened from around $74.15/bbl at 1215 GMT down to an afternoon low of $73.25/bbl at 1625 GMT, retracing slightly to $73.50/bbl at 1735 GMT (time of writing). Crude oil prices saw a weekly gain but
Very Low Sulfur Fuel Oil (VLSFO) has been more quiet this fortnight, although it has weakened. The May’25 Sing 0.5% crack traded between $7.50 and $8.20/bbl, sitting just below $8/bbl on 28 Mar (at the time of writing). While flows
EARLY SING WINDOW- This morning, the front-month Brent futures contract ticked lower, from $74.15/bbl at 01:15 GMT to $73.75/bbl at 05:45 GMT. While the contract met resistance at the $74/bbl handle early morning, it saw a surge of volatility at
Front-month Brent futures really did go from hanging on to the $70/bbl handle for dear life to soaring up to $74/bbl all in the same month. Before we bid farewell to the big box of uncertainty that March has been
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
The May’25 Brent crude futures fell from the $74/bbl level on Thursday morning, reaching $73.50/bbl by 10:00 GMT (time of writing). Price action encountered a triple resistance zone at $74/bbl, where the 50-day and 100-day moving averages converged with the
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 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
The major propane benchmarks were ultimately supported in the fortnight ending 26 Mar as we saw increasing strength in crude oil prices…
The front-month Brent futures contract ticked up slightly from $73.10/bbl at 07:40 GMT to $73.55/bbl at 09:50 GMT. While this level attracted some selling, perhaps from longs taking profit, the flat price has since risen to $73.65/bbl at 10:40 GMT
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
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
The North Sea Dated Brent physical differential was implied quite stably mid-month as it crept down below 80c/bbl. It then dropped more severely to 46c/bbl on 20 Mar as the front and back of the Forties curve were offered by
