09 July 2025: 16:30 BST
Flat price spent its day fighting tooth and nail for the $70 waterline. It dipped below in the afternoon, but the Tariff Man got something out of his system and threatened roughly 20-30% tariffs on seven countries and some are oil exporters to the US. The tariffed countries constitute 6.7% of the US total crude imports, minor really but enough to cause operational headaches before the buyers resell their contracts and import from other countries. Operational and contractual headaches. This spurred a recovery before the close, at which it reached at $70.39/bbl. The prompt spread meandered upwards today too, reaching a high of $1.26, just shy of setting a new high point for July trading.
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.
