08 September 2025: 16:30 BST
The Saudis like to make a big entrance at the conference in Asia, where most of their crude is sold. And oh boy, one could almost say they crashed the party. Their OSPs were way too low and took the wind out of flat price. One Saudi shrugged his shoulders and said, ‘we need more sales.’ Arab Light OSP to Asia cut by $1.00/bbl!!! The mega cut rattled the market, with many traders concluding it could push Brent/Dubai higher – a trader exclaimed those spreads “[are] going to the moon!”
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.
