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 Mar’25 Brent futures contract saw steady strength this afternoon, rising from just over $80/bbl at 1200 GMT up to this afternoon’s high of $81.60/bbl at 1630 GMT, moderating to $81.40/bbl at 1745 GMT (time of writing). EIA stats released
The US LPG market has seen a strong start to the year amid colder-than-expected weather. A rally in natural gas futures following Christmas lent support to LPG, with the Feb’25 Mont Belvieu TET propane (C3 LST) rising from under 80c/gal
The Mar’25 Brent futures flat price had a volatile morning on Wednesday. It rose to highs of $80.46/bbl at 07:46 GMT before falling to lows of $79.63/bbl at 09:30 GMT and climbing again to $80.33/bbl by 10:18 GMT. Brent has
The Mar’25 Brent futures contract saw some weakness this afternoon, declining from almost $80.90/bbl at 1200 GMT down to $80.15/bbl at 1800 GMT (time of writing). In the news today, Kaja Kallas, the EU’s foreign policy chief is now pushing
Nothing escapes the law of gravity, but the M1 Brent/Dubai has done much more than that, falling just shy of a low last registered in November 2023. As we write this, the front-month Brent/Dubai has fallen to -$0.80/bbl, having been
The naphtha complex rebalanced amid mass stop-outs and heavy selling into the cracks, which saw huge pressure in both regions. Stronger crude pressured the cracks alongside weaker demand estimates in the East and clear refiner selling in MOPJ flat price
Oil prices closed last year with a bounce in their step, and Brent pursued its ascent into the new year to trade above $81/bbl at the time of writing. 2025, in China’s astrological calendar, is the year of the Snake,
The North Sea Dated Brent market continues to strengthen into mid-January. The market was already trending higher on robust fundamentals, including US weather risk and an open arb between Europe to Asia, but the Russia sanctions headlines have supported Brent
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in fuel oil and light ends swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven
The Mar’25 Brent futures contract strengthened from this morning’s low of $80.25/bbl around 0730 GMT up to almost $81.15/bbl at 0950 GMT, before falling back down to $80.30/bbl at 1050 GMT (time of writing). Crude oil prices remain elevated as
The Mar’25 Brent futures contract ultimately saw weakness this afternoon amid rangebound price action, seeing a decline from around $81.10/bbl at 1200 GMT down to this afternoon’s low of $80.37/bbl at 1425 GMT, before recovering to $80.90/bbl at 1745 GMT
M1 Brent futures saw a rally this week, hitting above the $80/bbl level for the first time since October. The Mar’25 futures contract increased from an intraday low of $76.10/bbl on 06 Jan up to $81.45/bbl at the time of
Brent crude futures have surged above the $80/bbl handle, reaching a 4-month high. Supply tightness concerns fuelled the rally as the outgoing Biden administration imposed a severe sanctions package on the Russian oil industry. This week, we expect price action
In the week ending 07 Jan, managed-by-money participants continued their bullish stride in Brent, adding 42.5mb to their long positions (+15%) while removing 0.8mb from their shorts (-0.9%) w/w. This change in positioning took the total net length in the
