17 July 2025: 16:30 BST
Brent remained in the $68/bbl lever before charging ahead back to the $69 handle. A trader notes, ‘there is a lot of buying at the $68.50 level.’ The late London rally took it to $69.40/bbl. By press time. The prompt spread has rebounded from its low at under 80c yesterday to 94c by today’s close. As Brent traded in a comfy range today, the broader markets have largely recovered from the wobble and panic that Powell would be booted, with the USD strengthening again, while equity markets climbed and treasury yields fell slightly. Trump should know by now that the bond market is king and not him. Gold slid significantly, dropping 0.7%, while other metals, including platinum, continued their rally.
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.
