M1 Brent futures has seen a weekly loss as IE week took place in London. There seemed to be little optimism in the overall picture for 2025 demand from gloomy London. The main themes were Trump, tariffs, and geopolitical risk,
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
The Apr’25 Brent futures contract softened slightly from $72.75/bbl at 0200 GMT to $72.50/bbl at around 0730 GMT before there was better support to $73.30/bbl at 1015 GMT (time of writing). President Trump announced he would revoke Chevron’s license to
The Apr’25 Brent futures contract has seen weakness since this morning, trading down from $73.30/bbl around 09:30 GMT to $72.50/bbl at 17:40 GMT (time of writing). EIA data released today for the week ending 21 Feb showed a 2.3mb draw
Major global propane benchmarks weakened in the fortnight ending 25 Feb, dampened by softer crude oil and natural gas alongside expectations of warmer weather in the US towards the end of February. However, price movements were ultimately muted as risk
The Apr’25 Brent futures contract was initially supported up to around $73.30/bbl circa 07:00 GMT on Wednesday, where it saw more selling and weakened to $72.95/bbl at 10:20 GMT (time of writing). The soon-to-be prompt May’25 Brent futures contract similarly
The Apr’25 Brent futures contract sold-off this afternoon from around $74.40/bbl at 14:30 GMT down to $72.85/bbl at 17:30 GMT (time of writing). Crude oil prices saw bearish sentiment following poor economic news from the US and Germany, driven partly
M1 Brent/Dubai showed promising signs of a recovery after the Mar’25 contract rallied from an intraday low of -$0.69/bbl on 07 Feb up to near flat at -$0.06/bbl on 14 Feb, however, has now plunged even further down to -$0.83/bbl
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in fuel oil, naphtha, and NGL swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven
The Apr’25 Brent futures contract has seen weakness today, trading from an overnight high of $75.25/bbl at 04:45 GMT down to $74.65/bbl at 10:05 GMT, recovering to $74.75/bbl by 10:45 GMT (time of writing). In the news today, the UN
The naphtha complex maintained strength this fortnight in both regions with M1 cracks remaining near highs reaching mid-month. The threat of the re-emergence of Russian naphtha is yet to materialise with a peace deal between Ukraine and Russia still in
Apr’25 Brent futures saw marginal strength this afternoon, trading from $74.55/bbl at 1200 GMT to $74.70/bbl at 1735 GMT. Crude oil prices have seen bullish sentiment after the US imposed a fresh round of sanctions targeting Iran’s oil industry, hitting
After the Apr’25 Brent futures contract briefly touched above the $77/bbl mark on 20 Feb, the prompt contract has seen lacklustre start to the week, swiftly falling to $74.40/bbl by 1300 GMT on 24 Feb (time of writing). Apr’25 Brent
The front-month Brent futures contract rallied from around $74.40/bbl on 17 Feb to a weekly high surpassing $77/bbl on 20 Feb. The contract dropped to circa $74.20/bbl the following day and stood at $74.50/bbl on 24 Feb at the time
In the week ending 18 Feb, combined open interest (OI) across both Brent and WTI futures climbed for a second consecutive week, increasing just under 22mb (+0.5%) w/w. This was a more modest rise compared to a 67mb (+1.6%)
