27 January 2025: 08:30 GMT
Afternoon dump! Prices cracked as the year of the snake beckons. The flat price smashed through the $77 resistance level and hovered tenuously above the temporary $76 floor with prices tumbling from just after 15:00 GMT, falling from the mid- $78 range. Just a pitstop on the way to $75? Yes, we are confident to say. Our earlier call that we’d be returning to trading around $76/77 may prove overly conservative! $75 certainly looks like the next target. With this collapse in flat price, the front month spread took a dive from around $1 to just 80c within 2 hours.
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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