04 December 2024: 16:30 GMT
This afternoon, things looked primed for round two of pre-Christmas cheer after this morning’s jumpiness. But after lunch, markets took a turn. Flat price fell from around $74, gradually declining deeper into the $73 range and finally closed at $73.34/bbl. There was a minor interruption after the EIA’s weekly data showed a 5 mil bbl draw on national crude stocks. But this did little to arrest the momentum of the afternoon’s price action. It even kept going after the window, troubling $73/bbl. A sudden dump just before 18:00 dropped prices from $73.20 to $72.46/bbl by 18:20 GMT.
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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