8 May 2025: 09:30 BST
The market doesn’t know which way to go. The post-OPEC meeting dump to $59 was offset by relieved anxieties about a Saudi-led price war with the release of their June OSPs, but that rally has run out of steam and Brent flat price fell to $61.43/bbl by this morning’s close. As Brent waxes and wanes, the front spread has been ebbing and flowing too. After the heavy roll down on expiry, the July/August spread has fallen back to 32c as of this morning, a far cry from the June/July spread’s $1+ level heading into its expiration.
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).
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