Brent Experiences Strong Correction down to $86/bbl Levels
April 18, 2024
The prompt Brent futures contract has seen a retracement downwards this morning to $86.35/bbl at 10:35 BST.
Reports
Oil Prices Sell Off Amid Crude Build and Waning Wartime Risk
April 17, 2024
Jun Brent futures flat price remained rangebound around $89.50/bbl until 13:15 BST today, following which the contract sold off and reached $87.60/bbl come 17:20 BST (time of writing).
Brent Stable Around $89/bbl Levels
April 17, 2024
The prompt Brent futures contract saw a quiet start to the morning before experiencing a retracement downwards, from $89.82/bbl at 09:15 BST down to $89.06/bbl at 10:15 BST.
Leaves are turning green but Dated turned red…
April 16, 2024
Dated Brent structure saw a real (if short-lived) Easter story as bullish narrative was taking hold of the market and as spring sprung, so did Dated…
Brent Struggling To Support Itself Above The $90/bbl Mark
April 16, 2024
Prompt Brent futures flat price has witnessed a mixed afternoon period, struggling to support itself above the $90/bbl mark. This was evidenced as twice prices passed the $90/bbl threshold before retracing lower.
Gasoline Report: Game Of Two Halves
April 16, 2024
The May EBOB crack witnessed a fortnight of two halves. Initially, prices opened below the $21/bbl mark on Apr 09, facing downward pressure.
Brent Corrects Down to sub $90/bbl Levels
April 16, 2024
The prompt Brent futures contract has seen a correction downwards this morning, sliding from $90.77/bbl levels to just below the $90/bbl mark, trading at $89.91/bbl at 10:30 BST
Trade Wars: The Phantom Alpha
April 16, 2024
With another week comes a fresh slew of trade ideas by Onyx Research.
Brent Lower Amid Directional Uncertainty
April 15, 2024
Jun Brent flat price weakened further into the afternoon, moving from $89.85/bbl around noon to $88.80/bbl come 15:15 BST.
Futures Report: World Affairs Brings The Bears
April 15, 2024
Technical indicators for the current period highlighted similar trends across product groups. Brent’s RSI has been hovering around overbought territory, with price action oscillating around the $90/bbl mark throughout the week.
This Week’s Target Price: $86-88/bbl
April 15, 2024
After a relatively rangebound week, with Jun Brent futures oscillating around the $90/bbl mark and hitting highs of $92.18/bbl on Apr 12, Brent futures has opened weaker following the weekend’s events – retracing to below the $90/bbl mark.
The Risk is On: CFTC Weekly Analysis
April 15, 2024
For the week to Apr 09, we saw money managers add to both their long and short risk in the both Brent and WTI futures….
Brent Softens To Below $90/bbl
April 15, 2024
The Brent futures flat price for the prompt contract has witnessed a weaker morning, falling from highs of $90.64/bbl in the early hours to lows of $89.23/bbl at 09:05 BST. Prices saw a slight uptick since, printing at $89.69/bbl at 11:20 BST.
Brent breaks into $91/bbl Territory
April 12, 2024
Jun Brent flat price has seen an interesting afternoon amid price action finally breaking into $91/bbl handles at 13:30 BST and hitting a peak of $92.10/bbl at 15:25 BST.
Waha-ha-ha-ha Hub – LNG Market Report
April 12, 2024
As crude prices strengthen, producers remain keen to keep crude flowing. However, these wells in the US produce natural gas as a by-product, leading to an even greater supply glut.