Reports

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

Naphtha & Gasoline reports

Please note that these reports will now be published every Thursday.

Fuel Oil report cover

Fuel Oil Report – Fuelled Up February

In High Sulphur Fuel Oil (HSFO), the 3.5% barge complex weakened into the new year. The Feb/Mar’25 3.5% barge spread dropped from $4/mt on 27 Dec to a contango of -$1/mt on 14 Jan. While this contango was short-lived, the

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Brent Forecast Review: 14th February 2025

Sell Baby Sell? On Monday, we forecast the front-month Brent futures contract to hover between $74 and $77/bbl by the end of this week. As of Friday, at 10:05 GMT, the M1 futures contract is trading at $75.40/bbl. In line

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European Window cover

European Window: Brent Recovers To $75/bbl

The Apr’25 Brent futures contract has made a recovery after weakness this morning, trading from around $74.10/bbl at 1300 GMT up to $75.00/bbl at 1730 GMT. In the news today, President Zelenskyy said that Ukraine would not accept any bilateral

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Trader Meeting Notes

Trader Meeting Notes: Sell Baby Sell

This week reminded the market that we do not know what will happen next. The whipsaw of news seemed to pull the rug from under you as soon as you believed it. So what can we say really happened this

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CFTC Weekly cover

CFTC Predictor: Back In Business?

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 cover

European Window: Brent Futures Weakens To $75.35/bbl

The Apr’25 Brent futures contract weakened this afternoon, declining from $76.35/bbl at 1200 GMT down to $75.35/bbl at 1720 GMT (time of writing). Crude oil prices saw bearish sentiment this afternoon, with EIA stats released today at 1530 GMT for

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LPG Report: Middle East going South?

US Mont Belvieu (TET) propane found support in the fortnight ending 11 Feb, climbing from 84.50c/gal on 28 Jan to above 89c/gal on 11 Feb. Expectations of colder weather in the coming two weeks have supported expectations of heating demand

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European Window cover

European Window: Brent Inches Up To $75.85/bbl

Apr’25 Brent futures failed to maintain strength above $77.00/bbl this afternoon and softened to $76.46/bbl at 15:22 GMT before recovering to around $76.94/bbl at 17:30 GMT (time of writing). Russian oil production fell below its OPEC+ quota in January, alleviating

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Dubai Market Report – Hitting The Brakes

After the M1 Brent/Dubai contract fell to all-time lows in our last report, down to an intraday low of almost -$2.60/bbl on 28 Jan, there almost seemed no limit to bearish sentiment. However, the contract has found some momentary respite,

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Naphtha report

Naphtha Report: Strength Surges

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

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Onyx Alpha report cover

Onyx Alpha: Risk & Reward

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

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