Feb Brent/Dubai rose to 97c/bbl on Dec 18, but by Christmas the now prompt month slipped down past 40c/bbl. The early window on Dec 22 saw the Brent/Dubai structure nearly collapse. The market was liquid and we saw a player
The Brent futures flat price for the prompt contract has seen a relatively rangebound morning. Nevertheless, it has seen some support, rising from lows of $78.05/bbl at 08:30 GMT to reach highs of $78.68/bbl come 09:55 GMT. The US Navy
The freshest trade ideas of 2024 – This week’s edition includes a review of our PnL from December 2023 alongside previous months’ PnL from 2023.
Last week we saw the naphtha EW roof, fuelled by the skyrocketing TC5 freight rate (which passes through the Bab al-Mandab strait, the bottleneck of the Red Sea). Turmoil in the Red Sea has allowed for the TC5 freight rate
The market seems to dismiss the importance Angola’s exit from OPEC as the country represented a small portion of the overall output, at about 1.1mbpd, compared to the 28mbpd produced by the group…
Nigeria’s Dangote refinery recently acquired 1mbbls of oil from the state-owned NNPC, its second crude oil cargo this month. What does this mean for movements in oil as we know them?
The Brent futures flat price for the prompt contract has remained relatively rangebound this morning, falling no lower than $79/bbl. It managed to surpass the $80/bbl mark at 09:00 GMT to reach $80.10/bbl, before it retraced back down to $79.94/bbl
The Brent futures flat price for the prompt contract has seen a major rally this afternoon, strengthening by almost $2/bbl from $77.62/bbl at 13:00 GMT to $79.52/bbl at 16:35 GMT. Brent approaches the $80/bbl mark once again as continuous attacks
As the Advent doors continue to be opened, players were out doing some intense Christmas shopping, with Dec 12 the clear day when Brent/Dubai boxes went on sale. Trade houses were seen buying across the curve, with Jan Brent/Dubai rallying
Onyx’s Research team brings you new speculative trades every Tuesday based on technical analysis and data-driven tradecraft methods on Onyx Commitment of Traders (COT) and Flux Financials data.
Crude strength came in the context of the Yemeni Houthi militant group’s attacks disrupting international trade.
Brent and WTI both saw increased shorts and decreased length for a third consecutive week in the week to Dec 12 with lacklustre demand in oil continuing to dampen market sentiment.
The Brent futures flat price for the prompt contract has seen a sell off this morning, falling from highs of $77.39/bbl at 06:55 GMT to $76.08/bbl at 10:00 GMT. Goldman Sachs group has cut its Brent forecast for 2024 by
The Red Sea is vital for the transportation of Oil and Gas, with reduced transits already in place at the Panama Canal, this could see Eastern LPG rip higher. This presents a good opportunity to get short the LST/FEI arb.
Onyx Brokerage have come up with another winner through longing the Jan/Feb European gasoline spread, netting a profit of $35,000 after a recommended entry at $3.75/mt and securing gains at $2.00/mt.
