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
May’25 Brent futures has been supported this afternoon, rising from $70.55/bbl at 1200 GMT up to $71.20/bbl just before 1700 GMT, tapering to $71.00/bl at 1735 GMT (time of writing). EIA stats released this afternoon recorded a 1.75mb build in
The May’25 Brent futures contract strengthened from $71.45/bbl at 0600 GMT up to $72.15/bbl at 1020 GMT, tapering off to $71.95/bbl at 1040 GMT (time of writing). Crude oil prices have been supported amid instability in the Middle East as
The Dated Brent physical has seen a strong performance, with the physical differential stable and rangebound around the 80c/bbl region. Prompt CFD rolls have rallied, with the 24-28 March 1-week roll rising to $0.35/bbl. This comes despite being in the
The front-month Brent futures contract witnessed a weaker afternoon, with prices softening from over $72/bbl at 12:25 GMT to $70.35/bbl at 17:00 GMT. Subsequently, the contract saw a wave of support and rallied to around $71/bbl at 17:20 GMT but
The front-month RBOB futures contract saw a fortnight of two halves. We first saw prices weaken from $2.23/gal on 3 Mar to an intraday low of $2.07/gal on 11 Mar. However, the following week saw prices rise to $2.20/gal at
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in light ends and crude oil swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven
The May’25 Brent futures contract strengthened from $71.45/bbl at 0600 GMT up to $72.15/bbl at 1020 GMT, tapering off to $71.95/bbl at 1040 GMT (time of writing). Crude oil prices have been supported amid instability in the Middle East as
M1 Brent futures found firmer support at the $69/bbl level last week, rebounding from three-year lows and opening Monday (17 March) above $71/bbl.
May’25 Brent futures has seen weakness this afternoon, trading from just under $71.60/bbl at 1150 GMT down to $70.70/bbl at 1500 GMT, before recovering to $71.20/bbl at 1755 GMT (time of writing). In the news today, a Saudi official has
Brent’s Balancing Act Since the front-month Brent futures hit a three-year low of almost $68.50/bbl on 05 Mar, the M1 contract has steadily ticked up to $71.30/bbl by the time of writing on 17 Mar. The market had largely been
In the week ending 11 Mar, combined open interest (OI) across both Brent and WTI futures increased marginally by 21.5mb (+0.5% w/w). Speculative players removed length across the crude benchmarks for a fourth consecutive week, reducing their long positions by
The May’25 Brent futures contract gapped up overnight on market open this week to around $71.50/bbl, with prices remaining supported this morning around $71.45/bbl at 1055 GMT (time of writing). Crude oil prices saw bullish sentiment to start the week
May’25 Brent futures ultimately moved sideways this afternoon, trading down from $70.55/bbl at 1245 GMT to $69.95/bbl at 1435 GMT, before making a recovery to $70.50/bbl at 1740 GMT (time of writing). In the news today, President Putin has said
In High Sulfur Fuel Oil (HSFO), it was a bearish beginning to the month for Sing 380 cst cracks, with the Apr’25 crack declining from an intraday high of -$2/bbl on 27 Feb to -$5/bbl on 4 Mar. Price action
