The Aug Brent Future flat price has been unsettled this afternoon, trading between $79.50/bbl and $80.35/bbl, the latter of which it has twice been unable to break through.
Freeport LNG has sued contractors Zachry Industrial, Chiyoda International, and CB&I over defects in electric motors at its Texas plant, which have led to significant outages and costly repairs, with damages exceeding $1 million.
Long the Jul/Aug 92 spread This spread got to highs of 55 , but then got pressured down to 35 levels due to physical selling and profit taking. The 92 complex has been supported in the front, due to
The Aug Brent futures flat price has seen a fairly unremarkable morning, trading in a range of $79.85-80/bbl although continuing to see resistance at the now hallowed $80/bbl marker.
The Aug Brent Futures flat price initially saw a steady afternoon trading between $78.60/bbl and $79.00/bbl.
Last Sunday, OPEC+ held a meeting in Saudi Arabia, went to sleep and woke up to a nightmarish regime in oil. The meeting saw the producer group decide to (surprise, surprise) extend their voluntary output cuts.
In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
The Aug Brent Futures flat price saw a fairly muted morning in terms of price action, with much of the morning seeing trading in a range between $78.60/bbl and $78.80/bbl. It briefly touched an intraday high of $79.15/bbl at 09:00
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
Short Jul/Aug 3.5 spreads Demand in Europe is still tepid alongside ample stockpiles, as we get closer to summer cooling season, demand shall pick up and inventories should fall. Alongside this, Jul/Aug 3.5 Barges is trading high in the overbought
The Aug Brent futures flat price saw a fairly rangebound afternoon, generally trading in a narrow range between $77.80/bbl and $78.10/bbl.
The LST/FEI saw further pressure over the past two weeks where, after a brief window of strength at the end of May, the Jul contract fell to $242/mt despite observed buying, likely from importers jumping to hedge at these low
In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
The Aug Brent Futures flat price has had a mixed morning, initially lingering around $77.50/bbl until 08:15 BST and then ticking up to $77.85/bbl at 09:05 BST. Following this, it fell to $77.20/bbl at 10:10 BST, then rose to $77.70/bbl
Asian low sulphur fuel oil market structure has weakened over the last couple of days of June, with cash differential for the marine fuel grade dropped to a five-week low amid competitive offers and weaker deals for June-loading physical cargoes.
