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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.

Onyx Positioning Report – 22 Apr 2025

This report aims to provide a position index for energy futures between -50 and 50, with 0 as the neutral position. The full methodology is at the back of the report. When the position index is at the extremes, above 40 or below -40, the market is overstretched relative to its average position in the previous 3-year rolling window. As such, it is ripe for mean reversion. Consequently, when the index is high, deleveraging will follow, having a negative impact on price, while when the index is low, we expect accumulation that will push the price higher.

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Desk heads: Top of mind image

Desk Heads – Top of Mind

Welcome to Episode 2 of Onyx Desk Heads, Top of Mind. In this podcast, our Onyx Commodities Head of Trading Desks discuss the latest trends and developments in the oil, gas, power and carbon markets in which Onyx Commodities trades.

The Officials: 68 and done?

The window’s been chaotic of late and today continued to be busy, though somewhat more orderly. BP led the charge on the sellside, lowering offers for both Midland and CIF Forties. It was the Midland that attracted buying interest, as Totsa swept in to lift the offer for 22-26 June at Dated +$1.25, while PetroIneos picked up Vitol’s offer at $1.95 over Dated for 3-7 July – that’s a steep curve!

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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.