15 July 2025: 09:30 BST
Recurrent rumours of China stocking up crude for its national reserves were fuelled last week by a rising price and data indications that shipments from Iran and Iraq had gone up – as we reported yesterday, Vortexa also saw 600 kb/d more imports from Iran in June. Oil prices were buoyant but a belated acknowledgment by the general oil press noting the deluge of extra Saudi oil production cooled the exuberant feeling like an evening summer shower. And just as prices tanked back down towards the sub 70 mark, Energy Aspects drew further attention to the alleged Chinese buying and estimated a surge in extra imports of around 785kb! Party time again, right? 🤣
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.
