16 May 2025: 16:30 BST
And breathe! The market needed a moment to pause and reassess after all the excitement of OPEC speculation and trade deal carnage. It’s been chaotic run lately, with the flat price rollercoaster entering a calming period after the ‘hold onto your hats’ moments of the past few weeks. Remember to read our Liquidity Report every Tuesday to see how exchange traded volumes vary week by week and year by year! But after all was said and done today, Brent closed at $65.06/bbl, up a healthy 80c/bbl on the day. The futures structure has strengthened somewhat through the 2025 tenors, with the front spread closing at 59c. It went even higher post-window, hitting even 63c! Flat price rose after the window too, going on an adventure towards $65.50 – it looks much healthier than in the first week of May!
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.
