The soon-to-be-prompt October Brent futures contract firmed up to $79.15/bbl around 09:30 BST before softening to $78.80/bbl at 10:05 BST….
Short Aug 380 E/W -Since last week the E/W has been climbing on the back of the strengthen Asian Fuel Oil. The physical arb is open and we expect Euro prices to start to rise, so this trade idea is
The October Brent futures flat price has significantly weakened this afternoon following an initial period of strength.
We saw softer prices for the October Brent futures, ICE gasoil futures and US RBOB gasoline futures this week…
It has been an unusual year for the oil market. Gasoline, usually a blessing for sentiment in the summer, has been lacklustre throughout June and into July. On the other hand, wintertime performers like propane and butane have seen incredible
It was a risk-off week in the global crude benchmarks as money managers reduced long positions and added short positions. Preceded by five consecutive weeks of increases, long positions declined by 46.9mb (-8%). Meanwhile, short positions increased by 12mb (+8%).
The October Brent futures flat price contract climbed to $80.85/bbl around 07:35 BST but simmered off $80.05/bbl at 10:40 BST. The benchmark crude futures contract found support at this level and currently sits at $80.20/bbl at 11:25 BST (time of
Long Aug/Sep 0.5% Sing We saw some support on Friday which pushed the spread up to $8.00. This morning Aug/Sep dropped to $7.50, however we believe that the price will resume its upward trend.
The October Brent futures flat price has had an extremely mixed afternoon, initially falling from $81.15/bbl at 12:00 BST to the afternoon’s low of $79.45/bbl at 15:35 BST, before it then saw a retracement up to $80.20/bbl, where it sits
In HSFO over the past fortnight, we saw price action appear fairly unsettled alongside enduring relative Asian strength.
The October Brent futures contract has been consistently declining all morning, falling from $81.60/bbl at 07:50 BST to $81.05/bbl as of 11:20 BST (time of writing)….
“OPEC+ will need to maintain its current voluntary restraint to balance out growth… This will help prevent global balances from weakening at year-end and preserve a price floor at around $80 a barrel.” – Harry Tchilinguirian Follow Harry on X
The soon-to-be-prompt October Brent futures contract dipped to $79.55/bbl at 14:00 BST, where it found support and climbed to $81.10/bbl as of 17:35 BST (time of writing)
It’s the dawn of a new era in oil and everywhere else. US President Joe Biden stepped down to pave the way for a Trump vs Harris election riddled with all things Brat and Hannibal Lecter. In oil, the September
The Sep’24 Brent futures flat price has been under downward pressure this morning, falling from $81.40/bbl at 09:25 BST to $80.28/bbl at 11:35 BST (time of writing).
