Dated Brent Report – Summer? I Hardly Know Her
June 11, 2024
Despite this bearishness, the July DFL found some respite and rallied to above 20c/bbl on Jun 11th after previously being burned down to -50c/bbl on June 4th.
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Due to International Energy week events, the Dated Brent Update report will not be published in the week commencing 24 February 2025.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.
Gasoline Report: Heavy on the Brakes
June 11, 2024
EBOB has continued to be pressured as weakness emanated from the US as RBBR fell to $18.50/bbl on June 11. The Jul/Aug spread fell to $3.50/mt on June 11 from $6.50/mt on June 4.
Onyx Alpha: All Aboard the Propane Train
June 11, 2024
With another week comes another selection of trade ideas from 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.
The Officials: Volume 1, Issue 7 (Asia)
June 11, 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.
Overnight & Singapore Window: Brent Sideways Around $81.40/bbl
June 11, 2024
The Aug Brent futures contract has seen a rangebound morning, trading between $81.30/bbl and $81.80/bbl, and is currently trading at $81.46/bbl at the time of writing (11:15 BST).
Daily Trade Idea: 11/06/2024
June 11, 2024
Short Jul Euro Hi5 Demand for HSFO in Europe has seen a slight uptick lately, with higher bunkering requirements ahead of the summer as the main factor behind the recent HSFO strength. LSFO consumption across Northwest Europe and the Mediterranean
European Window: Brent Rallies to Mid-$81/bbl Handles
June 10, 2024
The Aug Brent futures flat price has had an extremely robust afternoon, initially rising from $79.75/bbl at 12:00 BST to $80.45/bbl by 13:45 BST before ticking down to $79.95/bbl at 14:55 BST.
Brent Forecast: 10th June 2024
June 10, 2024
TARGET PRICE: $78-80/bbl We expect Brent to trade on either side of $80/bbl this week, with a slight bearish bias. We are looking for the front month August contract to finish the week between $78-80/bbl. This call is predicated on
Futures Report: Risk-less Business
June 10, 2024
Technical indicators highlight that prices in the Aug Brent futures, ICE LS gasoil futures, and RBOB futures fell below their respective lower Bollinger bands, indicating a foray into oversold conditions before recovering towards the end of the week.
CFTC Weekly: Planet of the Bears
June 10, 2024
For the week to June 04, money managers significantly reduced their long positions and increased their short positions across the Brent and WTI futures benchmarks as traders reacted bearishly to the possibility of OPEC+ adding barrels back to the market.
Overnight & Singapore Window: Brent Lingers Around Late $79/bbl Handles
June 10, 2024
The Aug Brent Futures contract saw a fairly muted morning in terms of price action, where it opened at $79.70/bbl and has failed to move much either way. After briefly breaking $80.00/bbl and touching $80.10/bbl at 09:04 BST, it has retraced and is now trading at $79.75/bbl as of 11:15 BST (time of writing).
Brent Review: 10th June 2024
June 10, 2024
Brent trumped bearish macro sentiment and the EIA stats.
The likely unwinding of stretched short positions trumped bearish drivers this week, driving Brent above our end-week target.
Daily Trade Idea: 10/06/2024
June 10, 2024
Long Aug 380 E/W With the Middle East already suffering from high summer temperatures and drawing in a lot of HSFO for generating power, we expect to see demand increase in the East for Aug. Inventories have improved in Singapore
European Window: Brent Unsettled Around $80/bbl
June 7, 2024
The Aug Brent Future flat price has been unsettled this afternoon, trading between $79.50/bbl and $80.35/bbl, the latter of which it has twice been unable to break through.
LNG Market Report: There’s Nor-way the Gas is Back On!
June 7, 2024
Freeport LNG has sued contractors Zachry Industrial, Chiyoda International, and CB&I over defects in electric motors at its Texas plant, which have led to significant outages and costly repairs, with damages exceeding $1 million.
Daily Trade Idea: 07/06/2024
June 7, 2024
Long the Jul/Aug 92 spread This spread got to highs of 55 , but then got pressured down to 35 levels due to physical selling and profit taking. The 92 complex has been supported in the front, due to
Overnight & Singapore Window: Brent Inches Towards $80/bbl
June 7, 2024
The Aug Brent futures flat price has seen a fairly unremarkable morning, trading in a range of $79.85-80/bbl although continuing to see resistance at the now hallowed $80/bbl marker.
European Window: Brent Breaches $80/bbl
June 6, 2024
The Aug Brent Futures flat price initially saw a steady afternoon trading between $78.60/bbl and $79.00/bbl.
TMNs: Triple-Digit Dreams
June 6, 2024
Last Sunday, OPEC+ held a meeting in Saudi Arabia, went to sleep and woke up to a nightmarish regime in oil. The meeting saw the producer group decide to (surprise, surprise) extend their voluntary output cuts.
The Officials: Volume 1, Issue 4 (Asia)
June 6, 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.
