The chasm between the reality of demand sentiment and the crude oil futures markets, by extension, and the continued relentless buying in the North Sea physical seems to have been driven even wider this fortnight. Oct’24 EFP continues to price
The October Brent Futures contract experienced a mixed afternoon, trading sideways initially between $77.50/bbl and $77.85/bbl before rallying up to $78.30/bbl around 15:00 BST and experiencing a strong correction downwards to trade at $77.30/bbl at the time of writing (17:30
The October Brent Futures contract saw a recovery this morning, trading from the day’s low of $76.59/bbl at 09:30 BST up to $77.80/bbl, at the time of writing, 11:15 BST. In headlines, a major fire has continued into today at
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in Sing fuel oil and NWE gasoline.
The gasoline market has capitulated in the last week as the bears woke up from hibernation, putting the summer demand story to bed. Initial short-covering flows earlier this months gave bulls false hope as outright prices gapped down, breaking below
Oct’24 Brent futures flat price rose to over $79.40/bbl at 14.00 BST before it was pressured to $77.96/bbl at 17.19 BST (time of writing). Secretary of State Antony Blinken arrived in Tel Aviv to push for a Gaza ceasefire, but
Last week, the Oct’24 Brent futures failed to hold strength after the highs of $82.50/bbl on 14 Aug was not maintained as the geopolitical risk emanating from the Middle East has become somewhat normalised as Iran’s retaliation continues to brew
Although Brent crude futures saw a solid start last week, price action closed below $80/bbl on Friday. Middle East geopolitical concerns have eased alongside poor Chinese demand sentiment, amid weaker-than-expected economic data. The Oct’24 contract is trading at $79/bbl as
Risk assets saw more calm in the week ending 13 Aug, with crude oil specifically enjoying the newfound sentiment. However, this shift away from the previous three weeks’ bearishness was more a product of de-risking than one of bullish positioning.
The Oct’24 Brent futures contract stood above $79.50/bbl at 08:00 BST today but slid off to $78.80/bbl by 11:25 BST (time of writing). The Oct/Nov Brent futures spread also softened from above $0.80/bbl at 07:00 BST to $0.75/bbl at the
Long Sep 3.5 barges cracks With less volumes of HSFO coming into Northwest Europe from the US, the recent tightness has seen prices rise. We are following the trend with this trade.
The October Brent futures flat price has seen a strong afternoon, trading from a low of $78.64/bbl at 12:30 up to $80.06/bbl at 14:50 before retracing and settling around $79.73/bbl at the time of writing (17:20 BST). In headlines, data
The expansion of LNG exports is responsible for scores of premature deaths and nearly $1bn in annual health costs, according to a new report from the green groups Greenpeace and Sierra Club. The report links air pollution from LNG exports
The Oct’24 Brent futures contract firmed up to $80.90/bbl around 09:05 BST, following which the flat price sold off to $79.65/bbl at 11:35 BST (time of writing).
We have two trade ideas today: Long Sep/Oct 3.5 Barges We have observed 3 consecutive days of strong physical windows and barged being better bid, trading from $6.75/mt up to $10/mt. We believe that barges will finish the week strong,
