The Officials: Singapore Says “Let’s Bunk Up”
June 21, 2024
In Asia, the Dubai players were at it again vigorously, with Petrochina playing a less prominent role while
Exxon came out swinging.
Reports
Dated Brent Update Report
Due to International Energy week events, the Dated Brent Update report will not be published in the week commencing 24 February 2025.
The next report will be published on 4 March 2025.
Brent Review: 17th June 2024
June 21, 2024
TARGET PRICE: $82/bbl – $84/bbl PRICE: $85/bbl Is Summer Demand Finally Here? The crude oil futures market is on track for its second consecutive weekly gain on signs of better demand as Brent futures rallied to seven-week highs. We initially
Overnight & Singapore Window: Brent Rallies to $85.70/bbl
June 21, 2024
The Aug Brent futures flat price reached $85.75/bbl at 07:20 BST, following which the contract dived to $85.35/bbl at 09:35 BST. The futures contract again rallied to $85.75/bbl at 11:20 BST but has since eased to $85.60/bbl at 11:10 BST (time of writing). EIA data for the week to June 14 showed that total product supplied, which tends to be a proxy for the country’s total oil demand…
The Officials: Hey, do you want a piece of me?
June 20, 2024
In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
European Window: Brent Flirts With $86/bbl
June 20, 2024
The August Brent futures contract traded above $85/bbl all afternoon, rallying sharply to $85.90/bbl at 14:20 BST.
TMNs: One Long Day in Brent
June 20, 2024
June 19 was an eventful day for several reasons, including Just Stop Oil turning Stonehenge orange, Albania recording this Euros’ fourth own goal, Justin Timberlake getting arrested by a young cop who failed to recognise him and, of course, the front-month Brent futures rallying to a seven-week high to $85.90/bbl.
The Officials: Benchmark Fighter Federations Let Loose
June 20, 2024
From East to West, from trading companies to majors, from Dubai to Brent, the rival BFFs are letting loose their cannonades on one another.
CFTC Predictor: Have the Bulls Been Halted?
June 20, 2024
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 proprietary data.
Overnight & Singapore Window: Brent Trading Flat Above $85/bbl
June 20, 2024
The August Brent futures flat price has had a relatively flat morning, trading between $85/bbl and $85.40/bbl, aside from a brief fall at 08:45 BST to $84.95/bbl.
European Window: Brent at Highest Since April
June 19, 2024
The August Brent futures flat price recorded a strong afternoon, climbing to $85.60/bbl at 14:00 BST before falling 20c in the next 10 minutes to eventually rally to $85.80/bbl at 16:05 BST, the highest value for the M2 futures contract since the end of April’24….
LPG Report: US Propane Rally? Blink and You’ll Miss It
June 19, 2024
It was a fortnight of two halves for the LST/FEI as price action in the prompt rallied to -$200/mt but has subsequently fallen off.
Overnight & Singapore Window: Brent Comfortable Above $85/bbl
June 19, 2024
The August Brent Futures flat price has been fairly flat this morning following a brief drop-off from $85.40/bbl to just below $85/bbl between 07:00 BST and 07:45 BST.
Daily Trade Idea: 19/06/2024
June 19, 2024
Short July 0.5% Sing Crack With cargos of LSFO arriving from Dangote refinery in Nigeria we have seen cracks come off. Demand is still tepid at best, so we are following the trend with this trade. For brokerage services across
European Window: Brent Hits $85/bbl
June 18, 2024
The August Brent Futures flat price has had a strong afternoon, following an initial flat period from 12:00 BST to 14:00 BST. The price rallied from $84.20/bbl at 14:05 BST to $85.25/bbl at 16:20 BST, after which it has retraced to below $85/bbl
Naphtha Report: Spreading Strength
June 18, 2024
The dichotomy between a weaker physical and stronger financial market continues to linger in the naphtha complex. This divergence is perplexing especially when considering the acute weakness in gasoline.
Dubai Market Report – Dubai? More like Do-sell!
June 18, 2024
It seems like the flipping of the calendar month has brought with it a debilitation of Dubai’s strength. The prompt contract has returned to what would be arguably ‘normal’ positives, considering the makeup of the barrel.
Up-Dated Supplementary Report – Forties’ Coming Home
June 18, 2024
The Dated Brent market has kicked into high gear as structure mounted an impressive rally. Whilst June barrels are pricing weakly, sentiment is more bullish for July-loading barrels, with the Buzzard disruption helping clear the Forties overhang.
Onyx Alpha: Disembark the Propane Train
June 18, 2024
With another week comes another selection of new trade ideas by Onyx Research. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft methods on Onyx Commitment of Traders (COT) and Flux Financials data.
Overnight & Singapore Window: Brent Comfortable Above $84/bbl
June 18, 2024
The August Brent futures flat price has had a flat morning, trading predominantly in a narrow range of $84.00-$84.20/bbl. The only notable move was a dip from $84.20/bbl to $83.70/bbl between 08:50 BST and 09:40 BST, however, the price immediately retraced back above $84/bbl, where it sits as of 11:15 BST.
Daily Trade Idea: 18/06/2024
June 18, 2024
Short July/Aug 0.5 Sing Oil refiners across Asia are bringing back some idled capacity after maintenance, As much as 400,000 barrels of daily capacity, or more than 10% of what was taken down last month, will return to service in