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Warsh Becomes Fed Chair as Rates Unanimously Held, Forward Guidance is Dead

Warsh's Fed turns hawkish, scraps guidance and revives uncertainty, triggering volatility across markets.
18 June 2026

Heads of Desk: Top of Mind – Episode 52

The heads of Onyx Commodities' trading desks discuss the latest in the Oil Derivatives as of 16 June 2026
16 June 2026

Latest reports

Brent Eases As 60mb of Crude Oil Waits to Exit Persian Gulf

Brent slips to $77.5 as Hormuz reopens, boosting Middle East supply, while Russia-Ukraine tensions persist.
18 June 2026

Memoran-Done…?

Having been burned so many times by declarations that the war is over, the scepticism of the market is hardly unbelievable....
16 page report
18 June 2026

Funds Bullish in Crude and Products

Money managers likely cut shorts and add longs in Brent, ICE gasoil, RBOB. Producers mixed: add longs/shorts in Brent, de-risk RBOB.
8 page report
18 June 2026

Brent Eases on Newly Signed US-Iran MOU

Brent falls near $78 as US-Iran deal lifts sanctions and reopens Hormuz, but shipping costs and risks remain high.
18 June 2026