28 August 2025: 09:30 BST
The excitement continues in the PG as some key grades have recently been bid up. We give you the data: From August 14th, when prices roughly bottomed out, the international benchmark Brent has risen by $1.78/bbl while WTI has gone up by $1.60/bbl. And nearer to us in the Middle East, Dubai increased by $1.99/bbl while Murban jumped by $3.64/bbl.
Which one is the odd one out? Well, the figures show that Murban soared by more than twice the level of Brent and WTI. Why, may you ask? Join us in that quandary because the behaviour is very weird – as in unusual. One of our sources contributed this graph showing that “right now the Murban Brent spread is pricing at 99th percentile.” This spread behaviour is super uncommon. But why?
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.
