28 May 2025: 16:30 BST
Brent tirelessly worked its way up from the late afternoon to $65.04/bbl by the close, gaining $1.38/bbl from yesterday’s close. Is it the summer burn? Throughout flat price’s upward slog, however, the front spread held fairly steady, hovering near 55c and reaching the close at 57c. But after the close Brent rapidly spiked 60c – the bulls are back! Or perhaps not; since 9 May, Brent has struggled to maintain a position above $66 or below $64 for long and has been stuck bouncing between the two for the most part, despite the incessant deluge of headlines – it shows just how much headline fatigue has infiltrated 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).
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