26 August 2025: 09:30 BST
We were on the bull-drawn carriage yesterday and Brent broke through $69 in the afternoon! It slid back to just below $68 after the close this morning, but that quick peek above $69 looks like laying the foundations for an assault on the $70 handle. But it was Murban in the real driving seat today, reaching a massive $71.54 at the Asian close! This puts the Murban/Brent futures spread at $3.28, its widest since July 24. This should be bullish for Brent eventually, as buyers will look to replace the pricey Murban with more competitive alternatives. See our graph!
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.
