24 October 2025: 09:30 BST
The mania has eased and we are back in the $65-70 range, or at least at the bottom of it. Markets are like wild animals and they like to get out of the pen, but they get lassoed and pulled back to where they belong. The market is not long anyway, and we recognise credible data is so hard to come by. And one of the few points we still kind of trust is the US inventory data. Please use your grey matter and tell us why the market is long. Swimming in oil and inventories are really at the bottom end of a multi-year cycle. We are willing to listen, but really, where is the surplus?
The Officials publish 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 are 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.
