9 May 2025: 04:30 BST
‘I am bullish,’ said a large Asian trader. He noted most OPEC producers are already and have been at near max and the market has been absorbing the over quota oil. Another trader was also cautiously bullish looking at $65 if not higher. We are also thinking that the tariff negotiations between China and the US are a sign of price strength as the market oversold last week. As a new Pope entered the Vatican, the Brent bulls are back in town.
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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