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Onyx Global Oil Balance
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The Officials: 67 is teasing us!
June 9, 2025
Flat price keeps going! $67 was a tempting target as Brent climbed this morning, stretching out its fingers to reach that elusive level. It brushed $67 at 13:45 BST and another during the window, but failed to gain a toehold and came to the European close at $66.92/bbl. We’ve been bullish for a few weeks now and the market’s finally waking up to the fact OPEC quota hikes don’t equate to supply increases.
Onyx Alpha: Time for Normalisation?
June 9, 2025
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in Crude and Distillate swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft methods on Onyx Commitment of Traders (COT) and Flux Financials data.
Onyx CFTC Style COT Reports – 09 Jun 2025
June 9, 2025
Onyx’s in-house CTA positioning model determines the net positioning of CTAs in a range of futures benchmarks. In the week ending 6 June, CTA net short positions became less negative in crude oil futures (Brent and WTI) alongside refined product futures (gasoil and heating oil). Brent and WTI futures saw a small net change in the week to -20.46k lots and -12.36k lots, respectively. Brent increased by under 8k lots and WTI rose by just shy of 12k lots. In the products, RBOB net positioning remains negative, seeing next to no net change, at -7.8k lots. On the other hand, both heating oil and gasoil saw strong weekly increases to become less negative at -14.1k lots and -10.8k lots.
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Our team of skilled analysts, by utilising the depth and breadth of Onyx's proprietary data, position ourselves at the cutting edge of market analysis. This unique vantage point grants us an unparalleled perspective in the market, enabling us to identify emerging trends and lucrative opportunities.
