Reports

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European Window: Brent Supported At $72.35/bbl

The Feb’25 Brent futures contract strengthened this afternoon, increasing from $71.90/bbl at 12:00 GMT up to $72.65/bbl shortly after 15:40 GMT, before falling to $72.35/bbl at 17:55 GMT (time of writing). Crude oil prices were supported this afternoon with news

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Brent Forecast: 9th December 2024

Instability in the Middle East The front-month (February 2025) Brent futures contract weakened below $71/bbl on 06 Dec, dipping under the boundary of the symmetric triangle within which the M1 futures contract has oscillated since September (attached). As of Monday,

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Futures Report: Supply on Standby

The directionless feeling in the crude market has failed to be alleviated this week. As expected, OPEC+ announced a three-month delay to its planned production increase, now set for April 2025. The group also extended its timeline for fully reversing

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CFTC Weekly: Brent Bears Hibernating

Money managers got longer in the week ending 03 Dec in anticipation that OPEC+ was delaying their output hikes, which would serve to tighten global oil balances. Delaying for the third time, the unwinding of the voluntary cuts will now

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LNG Market Report: Will the TTF Bulls Pick Up?

European countries reliant on Russian gas are scrambling to find ways to pay for supplies after new US sanctions on Gazprombank, which could disrupt payments and halt gas flows, particularly affecting Hungary and Slovakia. Potential solutions include waivers or alternate

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Brent Review: 2nd December 2024

TARGET: $70.00/bbl – $73.50/bbl PRICE: $71.65/bbl OPEC+: Much Ado About Nothing The front-month February 2025 Brent Friday morning was roughly where it started the week, with a brief rally in between. At the time of writing, Brent was trading at

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Trader Meeting Notes: OPECrastination

This week, the North Sea physical market saw the largest amount of cargoes traded in 16 years, with 8 cargoes, or approximately 5.6mb of crude, changing hands in this Monday’s pricing window (2 Dec). With large market players Trafigura and

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European Window: Brent Falls To $72.05/bbl

The Feb’25 Brent futures contract fell this afternoon from $72.85/bbl at 11:35 GMT down to $72.05/bbl shortly before 18:00 GMT (time of writing). In the news today, OPEC+ delayed the revival of its oil production by three months to April,

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CFTC Predictor: Speculators To Add Length?

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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LPG Report: LST/FE-High?

The Jan’25 US Mont Belvieu TET (Energy Transfer) propane contract (C3 LST) weakened from over 83c/gal on 25 Nov to 80c/gal on 04 Dec (at the time of writing). The Jan/Feb’25 LST fell from 1c/gal to 0.25c/gal in the same

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European Window: Brent Weakens To $73.25/bbl

The Feb’25 Brent futures contract saw weakness this afternoon, increasing from around $73.80/bbl at 12:00 GMT to $74.07/bbl at 14:30 GMT, before declining to $73.25/bbl at 17:55 GMT (time of writing). EIA stats released at 15:30 GMT for the week

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