11 October 2024: 16:30 BST
Nobody seems to want to hold any additional risk going into the weekend. Price action looked as flat as an ironing board throughout the day, oscillating safely within the $78/bbl range. ‘It was soft day since the morning,’ said a trader. ‘Some people were selling the end of October period, I think that’s where the action will be,’ the trader added. But otherwise the market was dull with minor up and downs, until Brent finally broke through the $79/bbl level shortly before 15:30 BST. It stalled just below the $79.50/bbl mark and closed at $79.14/bbl.
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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