November Review Edition: Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in LPG and Gasoline swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and
The Feb’25 Brent futures contract was supported this morning, rising from $72.10/bbl at 07:00 GMT to $72.50/bbl at 10:30 GMT (time of writing). Crude oil prices were elevated amid reports that OPEC+ is likely to extend oil production cuts at
Between a Rock and a Hard Place -Brent price action in November was like waiting for Godot, with the flat price failing to break out convincingly to either side and trading in a range of circa $71-75/bbl. The dynamic governing
The Feb’25 Brent futures contract saw weakness this afternoon, falling from $72.66/bbl at 12:00 GMT down to $71.77/bbl at 17:55 GMT (time of writing). In the news today, Iran-backed Iraqi fighters crossed into Syria to help the government fight rebels
The crude oil market was rangebound and directionless in the past week, mostly stemming from the low liquidity associated with the US Thanksgiving holiday period. Price action initially came off by $2 on 25 Nov in response to the ceasefire
The front-month February 2025 Brent contract kicked off Monday by rebounding from last Friday’s lows, trading towards $72.70/bbl at the time of writing. However, the path of least resistance for the flat price this week is still one of weakness
ICE COT – In the week ending 26 November, money managers were risk-off in Brent crude futures amid waning geopolitical risk in the Middle East. Speculative players reduced both their long and short positions by -1.55% and -5.05%, respectively, which
Feb’25 Brent crude futures inched up from $72.42/bbl at 07:00 GMT this morning to $72.60/bbl at 10:55 GMT (at time of writing). Crude oil prices saw support while Chinese manufacturing PMI rose to 51.5 in November, up from 50.3 in
The Jan’25 Brent futures contract has weakened this afternoon, falling from $73.05/bbl at 12:00 GMT to $72.45/bbl at 17:50 GMT (time of writing). EIA data for the week to 22 Nov showed a larger-than-expected draw of 1.84mb in US crude
The narrowing scrubber spread was the key theme as there was diverging sentiment between the HSFO and VLSFO complexes, with the former turning bullish and the latter turning bearish. This is reflected in the narrowing of the Hi-5s (VLSFO vs
The Feb’25 Brent futures contract saw weakness this morning, falling from $72.77/bbl at 07:00 GMT down to $72.08/bbl at 10:55 GMT (time of writing). Crude oil prices saw bearish sentiment as markets weighed up the prospect of ample supply heading
Happy Thanksgiving! As American liquidity dries up in favour of stuffed turkeys, OPEC+ knows what it is not thankful for: the situation they’ve been placed in vis-à-vis bringing their crude oil barrels back into the market.
The Feb’25 Brent futures contract declined marginally from $72.90/bbl at 12:00 GMT to a touch under $72.75/bbl at 17:50 GMT (time of writing). In the news today, Russian President Putin said Moscow launched more than 90 missiles and 100 drones
After Jan’25 Brent futures initially fell from $72.80/bbl at 07:00 GMT to $72.40/bbl at 08:15 GMT this morning, the Jan’25 contract made a recovery to $73.30/bbl at 10:30 GMT (time of writing). In the news today, Ukraine’s energy minister said
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
