Reports

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Naphtha & Gasoline reports

Please note that these reports will now be published every Thursday.

European Window cover

European Window: Brent Climbs to $66.60/bbl

The Aug’25 Brent futures contract strengthened from $65.25/bbl around 13:00 BST this afternoon to $66.48/bbl at 14:40 BST, where it met resistance. Despite finding resistance at this level again at around 15:40 BST, the M1 futures contract ultimately climbed to

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Fuel Oil report cover

Fuel Oil Report – Is the HSFO bull run over?

In High Sulphur Fuel Oil (HSFO), Singapore 380 cst recorded a volatile fortnight, with the Bal-Jun’25 380 East/West (Singapore 380 cst vs 3.5% Rotterdam barges) was sold off from a high of $24.75/mt on 23 May to a low of

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Overnight & Singapore Window: Brent Above $65/bbl

Aug ’25 Brent futures slumped overnight to reach $64.90/bbl at 08.30 BST before rising to $65.35/bbl at 11.30 BST (time of writing). Prices are on track for the first weekly gain in three weeks. Equinor has announced Norway’s Mongstad oil

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Naphtha report

Naphtha Report: Unbearably Bearish

Unbearably Bearish would aptly describe the naphtha market, as sentiment deteriorated while weakness filtered into the cracks. There is an expectation of more supply coming online as refineries come out of maintenance, while petrochemical demand remains weak. The front NWE

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Trader Meeting Notes

Trader Meeting Notes: TACO Thursday!!

May’s end brought with it the usual harbingers of OPEC+ rumours. With the meeting now out of the way following a baseline hike of 411kb/d in June, the M1 Brent futures contract has stabilised around $65/bbl despite briefly selling off

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European Window cover

European Window: Brent Softens to $65.45/bbl

The Aug’25 Brent futures contract rallied to $65.84/bbl at 14:38 BST before softening to $65.45/bbl at 17:30 BST (time of writing). In the news, US President Donald Trump and China’s Xi Jinping agreed to resume trade talks amid renewed tensions

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Overnight & Singapore Window: Brent Above $65/bbl

The Aug’25 Brent futures contract saw a volatile morning, with prices between $64.91/bbl and $65.20/bbl. At 11:10 BST (time of writing), prices were at $65.19/bbl. In the news, Trafigura reported a 3% rise in net profit to $1.52B for the

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CFTC Weekly cover

CFTC Predictor: Counter-seasonal support in gasoil

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

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Naphtha report

Naphtha Report: Unbearably Bearish

Unbearably Bearish would aptly describe the naphtha market, as sentiment deteriorated while weakness filtered into the cracks. There is an expectation of more supply coming online as refineries come out of maintenance, while petrochemical demand remains weak. The front NWE

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LPG Report: Stocking Up…

US LPG production remained robust above 2.8mb/d, with export volumes fluctuating between 1.6mb/d and 2.1mb/d, driving stock build variations. Early in the month, LST was well supported by a rebound in FEI and strong hedging demand, especially in Cal LST

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European Window cover

European Window: Brent Recovers to $64.69/bbl

The Aug’25 Brent futures contract traded between $65.14/bbl and $65.91/bbl for most of the afternoon. The contract fell to $64.48/bbl at 16:18 BST but has slightly recovered to $64.69/bbl at 17:30 BST (time of writing). In the news, US crude

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Overnight & Singapore Window: Brent Sub-$66/bbl

The Aug’25 Brent crude futures rose to $65.95/bbl which proved to be a level of resistance as prices failed for the second time to breach this level after failing initially last night. Prices dropped to $65.65/bbl by 11:30 BST (time

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Technical Analysis report cover

Technical Analysis Report: Into the Cloud

M1 Brent futures continued to trade in a narrow range around $65/bbl over the week. On the upside, the immediate resistance lies at $67/bbl, aligning with the upper Bollinger Band, the top of the May price range, and the late-April

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European Window cover

European Window: Brent Softens to $65.66/bbl

The Aug’25 Brent futures contract rallied all afternoon to $65.86/bbl at 17:11 BST, but has since softened a little to $65.66/bbl at 17:40 BST (time of writing). In headlines, Venezuela’s May oil exports held steady at ~779kb/d, with rising shipments

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