Reports

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European Window: Brent Back Above $80/bbl

The Dec ’24 Brent futures contract witnessed a strong afternoon, recording a 2.5% increase to $80.80/bbl between 14:00 BST and 17:00 BST before softening a little to $80.70/bbl as of 17:35 BST (time of writing). T

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Oil Monthly Report: Much To Do About China

Much To Do About China – Front-month ICE Brent futures shifted gears twice, moving into a lower trading range in September, with Brent pricing still very much at the mercy of the macro sentiment, centred on China. At the peak

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CFTC Weekly: Bears On Track To Beat Bulls?

For the week to 01 Oct, money-managed positions saw mixed interest across Brent and WTI crude futures, while price action in both futures contracts found support this week. We saw combined money managed long positioning in Brent and WTI futures

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Futures Report: Ballistic Brent

The Brent futures complex saw a substantial rally over the past week as price action surged on heightened geopolitical risk. Following Israel’s expansion of the war into Lebanon, Iran deployed ballistic missiles toward Israel on 1 October, marking a substantial

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Brent Forecast: 7th October

Powered by Volatility The Dec’24 Brent futures contract fell below $78.00/bbl on Friday evening but again rallied to $79.65/bbl on 07 Oct at 10:40 BST (time of writing). Volatility remains elevated in the benchmark crude futures contract, leading us to

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European Window: Brent Recovers To Mid-$78.60/bbl

The Dec’24 Brent futures flat price recovered this afternoon after initial weakness, amid Iran’s threat to target Israeli gas infrastructure should conflict erupt. The Dec’24 contract traded at $78.63/bbl at 12:00 BST and dipped to $77.84/bbl around 13:20 BST, before

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Fuel Oil Report – Volat-oil Markets

In high sulphur fuel oil, we saw some greater strength in the European HSFO complex. The Oct’24 3.5% Barges crack climbed from -$13.55/bbl on 2 Sep to -$9.05/bbl by 19 Sep, fuelled by trade houses adding 535kb of longs and

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Brent Forecast Review: 4th October 2024

Turbulent Times Ahead On Monday, we predicted the Dec’24 Brent futures to finish the week between $69-74/bbl amid an oversupplied oil market. However, the futures contract witnessed an injection of bullish sentiment due to growing concerns regarding the regional escalation

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Trader Meeting Notes

Trader Meeting Notes: What a Whole Load of Bull

Brent briefly dipped back into the infamous $60/bbl handle on Monday, only to rebound sharply over $75/bbl as sentiment took a volte-face on fears of a potential oil supply disruption stemming from the regional escalation of the war in the

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European Window: Brent Rallies Over $77

Dec’24 Brent futures flat price rallied this afternoon, from $75.65/bbl at 14:00 BST to over $77.00/bbl at around 17:00 BST, currently at $77.15/bbl at 17:20 BST (time of writing). Prices jumped this afternoon as President Biden was asked if he

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CFTC Predictor: Exodus of Bulls in Brent

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: Brent Sells-Off To $73.81/bbl

Dec’24 Brent futures flat price saw a sell-off this afternoon, trading at $75.84/bbl at 12:00 BST and steadily descending to $73.81/bbl at 17:15 BST (time of writing). The downward price action came amid the release of EIA data today at

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