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The Officials: Breath bated, attention captivated

04 June 2025: 09:30 BST

Middle Eastern Official selling prices (OSPs) are to be issued later in the day and ahead of the region’s religious holidays. We wish everyone celebrating a restful period from Asia through the Middle East to Europe and the Americas. Keep an eye on the X/Twitter account (@OnyxOfficials), where we will release the OSPs as soon as we get them. A quick survey of market participants by The Officials showed market opinion is divided: most agree on some degree of cut (referring to Arab Light to Asia), but the degree is split between a few cents to as much as -40c from the June price. The change in Dubai structure
implies a cut around 35-40c…

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.

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