13 June 2025: 16:30 BST
Be ice cool as fear provides sell opportunities! The voices of reason are reminding us supply is unimpeded! Strangely, sellers tell us all is cool and consumers tell us things are iffy. Things are upside down! OPEC waded in, reaffirming no supply disruption has actually occurred. Basically, ‘Don’t panic!’ The IEA weighed in too, flexing 1.2 bil bbl of reserves and readiness to pump. But really the IEA controls nothing and, in case you don’t know, there are no stocks in Europe the IEA controls. The only one that has barrels and controls its release is the US and they don’t listen to the IEA, we heard they don’t like them! The OPEC-IEA ding dong was the last thing we expected out of today’s developments… Cooler heads are coming to the conclusion that oil supply from the Gulf shouldn’t be affected as it’d be impractical for Iran to disrupt the Strait of Hormuz and neither side would benefit. Iran has minimal alternative export routes – and China would not be happy! – while it would deeply sour regional relations.
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.
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