16 July 2025: 09:30 BST
The US administration is increasingly seen as a strident noise-maker with no substance and it’s risking not being taken seriously. The statements by the secretary of energy regarding the non-exemption approach to tariffs on energy products, should have resulted in a massively higher price down the curve and a major mess in the US gasoline prices in the US East Coast because the area is dependent on imports. But the market ignored the entire thing. This means that the US has reached the irrelevance stage. ‘They won’t implement what they said, they can’t,’ said a source in the Middle East, echoing what European and Asian sources said earlier. ‘They say one thing and then they change their mind,’ said the source.
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.
