01 September 2025: 16:30 BST
Brent felt bullish this morning. Very bullish. From around $67.50 at 08:00 BST, it rallied rapidly to over $68.30 by lunchtime, before easing off in the afternoon to take stock and reach the European close at $68.13/bbl. After the Oct/Nov Brent spread reached expiry on Friday, the now prompt Nov/Dec spread has bulked up to trade around the same level, reaching the close at 61c. The vibes were promising in the morning, but the afternoon failed to build on that foundation. In any case, September has started with some strength, both in flat price and the structure – and even the physical got a boost!
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.
