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The Officials: Diff in difficulty?

22 July 2025: 16:30 BST

The bearish vibes kept gnawing away at flat price this afternoon, dragging it down to a low of $68.15 after the close as the prompt spread also slid to 79c from its intraday high. The structure is holding up further down the curve, though, as the widely watched Dec25/Dec26 spread is trading near 50c. Extra Middle East crude supplies are weighing down the market.

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.

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