2 May 2025: 16:30 BST
The disruptors! OPEC+ brought forward its meeting to tomorrow! The market didn’t expect that and Brent futures fell to below $61 on the reports. Is it just a coincidence that this puts the meeting on the weekend, outside of trading hours, when any market impact can be tempered? Looks like it to us… announcing a change on the weekend will give the market time to digest the impact and hopefully avoid an overextension in reaction. We’re also hearing reports that delegates are already discussing their decision. To cut to the chase, the cats are fighting and anxious about the consequences of their announcements and collapsing prices.
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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