26 August 2024: 09:30 BST
Vitol and Gunvor had a tougher window today, “Trafigura sells to” was the theme. But the flat price soared
regardless, but the real action was in Brent. Any price seemed right to sell to, and Trafigura smacked physical
Dubai premium back down. Partials premium over M2 swaps was down almost 10c to 102.5c. Of course, well
above the 80 cts running average of the premiums so far Vitol and Gunvor have paid to date. The dynamic duo
in Dubai picked up a lot of cargoes at much cheaper premiums, and today they both netted themselves
another convergence of Upper Zakum. See all of Vatman and Gobin’s convergences this month overleaf!
In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
We invite you to read our reports, which will initially be published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST).
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