05 August 2025: 16:30 BST
And the trade rhetoric continues… with Trump singling out India, which “has not been a good partner.” He vowed to raise tariffs “within 24 hours” due to New Delhi’s continued appetite for Russian crude. A trader summed up the market view, “We are also asking ourselves if Russia stops into India (which I believe is extremely unlikely), how much more Russian can China absorb?” But the oil will only stop in qan imaginary world. Nearer us in Dubai, the trade carries on. The traders continue to move Russian barrels and three vessels are scheduled to be discharged imminently for IOC, Reliance and HPCL. Meanwhile, another source said, “Even over the weekend, EU/UK-sanctioned vessels were discharging”.
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.
