‘Strong Brent expiry to give bulls false hope’ or so the meme goes. Immediately following expiry, the North Sea market saw a dramatic capitulation as the physical turned offered.
The July Brent futures flat price has been struggling to garner support this afternoon, sliding down from its daily high of $83.55/bbl at 11:25 BST to its first low of $82.25/bbl at 14:20 BST.
EBOB cracks experienced a fairly weak fortnight, dropping marginally from $22.40/bbl on Apr 30 to $21.50/bbl come May 06, before the decline accelerated, leaving the contract lurking just above $19/bbl.
The July Brent futures flat price has experienced a morning of mixed price action. From a level of around $83.50/bbl at 06:00 BST, the price edged slowly down to its daily low of just over $83/bbl at 09:30 BST.
For Brokerage services across the barrel and to receive our weekly trade ideas, contact insight@onyxcapitaladvisory.com
With another week comes a fresh slew of trade ideas by Onyx Research. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft methods on Onyx Commitment of Traders (COT) and Flux Financials
The July Brent futures flat price has had a mixed afternoon, initially having a mini rally to $83.40/bbl by 13:40 BST before swiftly dipping to $83.15/bbl at 14:05 BST.
Technical indicators indicated sideways price action in Brent and gasoil futures as the RSI moved out of oversold territory, with the lower Bollinger band providing a level of support. On the other hand, RBOB futures continued its downwards slide with
For the week to May 07, we saw strongly opposing positions adopted by prod/merc players across the two benchmarks, whilst money managers took similar approaches.
July Brent futures witnessed a passive week, as price action remained tight between a range of $81.50-84.50/bbl. There was a slight rally to $84.53/bbl in the early stages of May 10, before prices got scared off the $85/bbl mark and
The July Brent futures flat price has been well-supported this morning, rising from its low of $82.40/bbl at 06:40 BST to a peak of $83.20/bbl at 10:20 BST.
For Brokerage services across the barrel and to receive our weekly trade ideas, contact insight@onyxcapitaladvisory.com
The July Brent futures flat price has had a limp afternoon, beginning at a high of $84.45/bbl at 12:00 BST, before a small retracement down to $84.05/bbl at 14:05 BST, at which point it immediately regained its losses, rising to
The Panama Canal is in talks with US LNG producers to increase transit through the passage as water levels begin to recover.
The July Brent Futures flat price has generally been well supported this morning, rising to a high of $84.50/bbl at 08:00 BST. Following this, it briefly softened to $84/bbl by 09:45 BST, before it swiftly rebounded to $84.30/bbl handles, where
