29 May 2025: 16:30 BST
After making the most of the good vibes early this morning on the news reciprocal tariffs could be toned down, Brent took a tumble before lunchtime, plummeting back towards $65. That wasn’t all though and it dropped below $64 by 15:00 BST. The front spread started getting funky though, as we approach tomorrow’s expiry, while the M2/M3 spread held relatively steady in the low 60c range.
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.
