Brent falls to lowest since June
December 12, 2023
Brent crude is now at its lowest since June 2023 as the fundamental picture continues to discourage market participants.
Reports
Napoleon Vs the Bears
December 12, 2023
It’s Waterloo V2 as a French and British Major oppose each other for control of Dated. The physical is being supported by a French major, bidding the diff up to 24c, and with North Sea a more achievable target than
Middle Eastern update – 12/12/23
December 12, 2023
Brent futures saw a slight dip this morning, with the market opening at $76.61/bbl at 06:00 GMT and dropping to lows of $76.05/bbl at 08:30 GMT, prices then rose steadily to $76.32/bbl levels at 10:00 GMT. Today in the news,
What does the Alpha say?
December 12, 2023
With a fresh week, Onyx Alpha brings you a slew of fresh trade ideas. Our team of analysts brings you hedging and speculative trades every week based on technical analyses and data-driven tradecraft methods on Onyx’s Commitment of Traders (COT) and Flux Financials data.
Wait-and-See Mode: Fed Data Edition
December 11, 2023
The Brent futures contract has been hovering around the $75.75/bbl handles throughout the day and at $75.73/bbl at 17:00 GMT (time of writing). Today, oil prices saw minor price action amid a wait-and-see market as the Fed is about to
Powell O Powell, Wherefore art thy Powell?
December 11, 2023
With Brent futures reaching oversold territory for the second time in a month, we expect to see a resurgence of speculative long players waiting to buy at these cheap levels, yet the market saw limbo this week, as players await
Dangote Refinery Passes Major Milestone
December 11, 2023
The Brent futures flat price for the prompt contract has seen a sell off this morning, falling from highs of $76.48/bbl at 07:10 GMT to flirt with the $75/bbl barrier at 11:00 GMT, where it was only 2c above at
The Bears have come for (W)T(I)
December 11, 2023
Both Brent and WTI futures saw bearish sentiment flood the contract in the latest CFTC data, with net positioning for both contracts decreasing by nearly 20% week-on-week.
It’s All About the Freight
December 8, 2023
Freight rates out of the US Gulf Coast fell 10c on the week, in turn weakness spread like the plague into JKM and most notably TTF contracts. Top news this week comes out of Australia, with Woodside Energy and Santos
Trade ideas for the week
December 8, 2023
To trade or not to trade? Ask Onyx Alpha – where we publish speculative and hedging trades every week based on technical analysis and data-driven tradecraft methods on Onyx’s Commitment of Traders (COT) and Flux Financials data.
“C***s” – OPEC
December 7, 2023
Prompt Brent futures have seen a rollercoaster of a week, if the rollercoaster in question was a ‘Drop-Tower’, as prices have come off
aggressively, plummeting to below the $75/bbl mark.
LPG Traders Unspooked by Panama Canal Restrictions
December 6, 2023
This year, the Panama Canal has been troubled by the lack of rainfall and severe drought, with recorded precipitation for October being the lowest on record since 1950. Water levels in Gatun Lake have continued to decline, and in response
G(OSP)ing Around: An Insight into Dubai Crude
December 5, 2023
And just like that the OPEC meeting came and went. Jan slipped to a low of -40c/bbl on Nov 30 following the meeting as Dubai bulls half-heartedly sold into the immediate aftermath, letting prices peak below the lower Bollinger Band. Then as we collectively turned our pages on our calendars (us who still use paper) the Dubai bulls lost control and prices began to rally.
Mirko Ivanda & Ante Ivankovic join as Co-Heads of Gas & Power in new Zug office
December 5, 2023
As Onyx Capital Group expands internationally once more, we would formally like to introduce Mirko Ivanda and Ante Ivankovic as Co-Heads of Gas and Power based out of our new office in Zug, Switzerland. Onyx CEO and Co-Founder Greg Newman says he’s “very excited
CFTC Report: Money managers close positions
December 4, 2023
The week to Nov 07 saw a continuation of long money managers closing positions, marking two consecutive weeks of removing length, closing over 15mbbls, or 6.3% of all long positions in the week with length now at a four -week