Brent Lifted From $83/bbl
May 6, 2024
Jul Brent crude flat price was supported in the early morning from $83/bbl to $83.65/bbl at 11:30 BST (time of writing) with low volumes traded due to the UK Bank Holiday.
Reports
Futures Report: Bear Attack
May 6, 2024
Technical indicators showed the major futures contracts falling into oversold territory on the back of a waning geopolitical risk premium and poor sentiment out of the US which exacerbated the sell-off. Bollinger bands have widened, indicating a sustained increase in volatility…
Brent at $83.20/bbl Amid Mixed Flow
May 3, 2024
The July Brent Futures flat price has had a mixed afternoon. Between 12:00 BST and 13:30 BST it rose steadily to a high of $84.30/bbl before reversing this trend and declining to a low of $83.10/bbl at 15:45 BST.
Fuel Oil Report – A Glass Half Fuel…?
May 3, 2024
HSFO was well supported this fortnight until the sell-off in crude from Apr 30 onwards catalysed
overwhelming bearishness in the complex, with this slightly more pronounced in European grades.
Choppy Morning For Brent In $83/bbl Handles
May 3, 2024
The Brent futures flat price for the prompt contract has witnessed a weaker morning. Price action initially strengthened to reach a peak of $84.13/bbl at 08:25 BST. However, since then prices have witnessed a downtick to back beneath the $84/bbl mark, reaching $83.61/bbl.
Brent Fending Off $82/bbl Handles
May 2, 2024
The July Brent Futures flat price has had a fairly volatile afternoon, rising to a high of $84.40/bbl at 13:05 BST, before sinking between 13:05 BST and 16:05 BST to a low of $83.10/bbl.
TMNs: Annnnnd It’s Gone!
May 2, 2024
Crude prices were humbled this week and came back to earth as traders discounted geopolitical risk whilst macroeconomic headwinds lingered.
Brent Sideways around $84/bbl
May 2, 2024
Following the significant retracement downwards yesterday, the prompt Brent futures contract has seen a steady morning, opening around high $83/bbl levels and gradually gaining to reach $84.39/bbl, before retracing to trade around $84.16/bbl at 10:00 BST.
CFTC Predictor: Products 1 Brent 0
May 2, 2024
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.
Brent Plummets to $83/bbl Handles
May 1, 2024
The July Brent futures flat price has had an action-packed afternoon. Having initially found resistance at $85.30/bbl, prices dropped to $84.80/bbl, before immediately rallying to the afternoon’s high of $85.80/bbl. Subsequently, from 15:30 BST onwards, the price collapsed below $84/bbl and is hovering around $83.75/bbl at 17:15 BST (time of writing).
Dated Brent Report: Natty or Juice?
May 1, 2024
The buyside players in previous physical windows were notably absent in the cash on expiry day, showing that the bullish sentiment was just not it.
Brent Plunges To $85/bbl Handles
April 30, 2024
The July Brent futures flat price reached a peak of $87.75/bbl at 13:45 BST before collapsing to a low of $85.46 at 14:40 BST. Since then it has retraced higher and is currently hovering around $86.20/bbl handles.
Gasoline Report: EBOB in the Driving Seat
April 30, 2024
EBOB cracks saw a fortnight of two halves with the Jun crack first selling off and then recovering to $23.40/bbl come Apr 29.
Brent Steady in $87/bbl Handles
April 30, 2024
The July Brent futures flat price has been well-supported this morning following a rangebound night and a subsequent drop. Between 01:00-06:00 BST prices hovered between $87.00-$87.20/bbl, after which a low of $86.84/bbl was reached at 06:45 BST. Subsequently a rally to $87.40/bbl handles has been seen at 10:55 BST.
Trade Wars: Revenge Of The Alpha
April 30, 2024
With another week comes a fresh slew of trade ideas by Onyx Research.