26 June 2025: 09:30 BST
Flat price may have found some firmer ground and steadied in the upper 60s, but the prompt spread is beavering its way up again: by today’s Asian close it had climbed to $1.19, with that strength filtering down the curve. Supply and demand balances are still showing supply overhangs into Q4 this year, as the Onyx Global Oil Balance projects a 500 kb/d surplus. Once the summer burn and peak demand season filters out, the longer term market outlook is a bit shaky, as the global economy continues to struggle with tariff threats and lukewarm growth.
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.
