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The Officials: North Sea snooze!

06 June 2025: 16:30 BST

On the 81st anniversary of D-Day, the North Sea was sombrely quiet and there was not a great battle among the traders. But the longs were definitely winning in the flat price front. Brent hit triple six for a while, $66.6+ something. The window players look fatigued after a busy week; Totsa and Mercuria were back, bidding for Midland yet again, bringing bids of +$1.45 and +$1.65 over dated. The sellside was also populated by the usual suspects, as BP and Phillips offered again, bringing +$2.00 and +$2.10 over dated to the table. But neither side wanted to budge much further, and no one traded.

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.

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