30 September 2024: 16:30 BST
The window showed no transactions at all, hardly surprising given expiry. The stalemate left physical diffs unchanged from yesterday at around 65c. While the big guns in the North Sea kept quiet, avoiding a reenactment of trench warfare, where nobody wins. But the fun for past deeds continued, if you are an observer and not a participant of course. This time it’s an ex-Gunvor employee (unnamed due to Swiss legal requirements), who is facing allegations of corrupting officials in the Republic of Congo in exchange for oil contracts. Prosecutors allege that the defendant was involved in payments worth more than $35 million in 2010-2011. Court proceedings began today in Swiss court. Do note that Gunvor itself is not involved in the legal proceedings. That’s how it goes.
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).
For any comments, please reach out to us through the emails provided in the signed documents.
