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Heads of Desk: Top of Mind – Episode 38

The heads of Onyx Commodities' trading desks discuss the latest in the Oil Derivatives as of 10 March 2026
10 March 2026

Markets Watch Crude, Core Gulf Producers Cut Oil Output

Oil swings wildly as war risks and Trump comments rattle markets; crude drives moves across bonds, stocks, FX and rate expectations.
10 March 2026

Latest reports

Brent Declines to $98.80/bbl

Brent falls as Gulf refining outages hit supply; Urals surges on demand while shippers add fuel surcharges and traders secure financing.
4 page report
10 March 2026

Crude Awakening

Midland and Forties active in windows as physical North Sea strengthens; tighter supply supports DFLs while futures still outpace Dated.
10 March 2026

Supply Shock Shockwaves

Changes to the Dubai benchmark, strong Brent spreads and huge volatility
10 March 2026

Energy Positioning Report – 10 March 2026

ICE Brent fell by -2 remaining in overextended territory, NYMEX RBOB increased by +10 reaching a score of 35. ICE Gasoil still overextended.
9 page report
10 March 2026