14 July 2025: 09:30 BST
Boom boom, oil markets are zooming up and no major bombs going off anywhere… This must be Chinese purchasing, isn’t it. All indications are that China has been loading up. You gotta give it to them. They are flat price buyers and anything below or near $70/bbl looks good for China. Shippers say China has been busy with Iranian and also Iraqi barrels. A positive start to the week! While the stock market feels the hangover of Trump’s weekend tariff binge, with S&P 500 futures down 0.5%, Brent flat price boogied upwards in the afterparty, climbing to $71.50. The prompt spread enjoyed itself too and rose to a peak of $1.29 after the Asian close, hitting its highest since the end of the 12-day war. Not quite like the party going on in Crypto but good enough!
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.
