24 February 2025: 08:30 GMT
Markets opened International Energy Week well down, still suffering with Friday’s hangover, as key participants prepare for a frantic week of conferences and boozy meetings in London But in Dubai it’s finally convergence o’clock!! On the 16th trading day of February, Chevron declared a cargo to PetroChina. We only had to wait until the final week of the month to get one, quite a change in pace from the prior few months. But you wait for a bus and three turn up at the
same time. As well as Chevron’s convergence with PetroChina, Reliance declared an Upper Zakum to PetroChina and another of the same grade to Vitol.
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.
