19 September 2024: 09:30 BST
High level, never bet against the Fed, vibes traders got it right. Back to more parochial but important things…Dubai has managed to lead the pack in recent sessions, after struggling through July and August. But are we seeing that start to slow? Dubai’s premium over November Brent futures eased slightly to 41c, down 11c on the day but still comfortably within its elevated September range. On a premium basis, Dubai is still very much in fashion; physical premiums rose to $2.30/bbl! Is Dubai starting to get too expensive? Not for Mitsui and Northern Petroleum by the looks of things.
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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