04 August 2025: 09:30 BST
Markets collapsed! The sentiment was extremely bearish and, in a way, it doesn’t matter what OPEC says it does or doesn’t do. The market is reacting to the overall interpretation of supply and things don’t look so good. We told you to go short or maybe we told you we were bearish. Well, here it is, by press time Brent had dropped over $1.00/bbl and was heading to the low $68 handle, why? The Saudi summer burn is over, in the markets we are talking about two months forward and there’s no summer burn there as far as the eye can see. And the broader economic narrative following the US tariffs are expected to chomp a bit of the global GDP. Moreover, product margins are going down as the Chinese crank out exports.
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.
