27 August 2024: 16:30 BST
Having surged upwards yesterday morning on the weekend’s bullish geopolitical news, Brent stagnated around the $81/bbl mark today before sliding to around $79.60/bbl by 18:00 BST in a sell-off after market close. “They’re keeping the diff elevated” said a trader, as Totsa lifted the Oseberg across the curve at Dated +$3.45, with quality premiums at $1.43. We wonder who ‘they’ is. 😀 Midland was offered by Aramco at Dated +$3.05, while an opportunistic BP bid +$2.25 for an end Sep Midland.
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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