30 July 2025: 16:30 BST
Brent hits $73.50/bbl! And up we go flying, the moon is the next stop! What’s going on? WW3, coup d’etat, tariffs, Russia not selling, China buying, shipping interdiction on a massive scale? It starts to sound overdone but CTAs are hungry our sources tell us. They loaded up on short term $80 strike call options. Meanwhile, on the tariff front, India got hit by Mr T with 25% tariff plus some mystery “PENALTY” for funding Russia’s invasion of Ukraine by buying Russian oil and military equipment. At least Mr. T called them friends before he whacked them. You could feel the love and the respect…not. A survey of Indian sources couldn’t figure out what exactly this penalty entails… some think it could be the 100% secondary tariffs for buying Russian oil. The Indians are at the end of their tether, perplexed about Trump’s game plan. Once you’ve refined a product and mixed it all up, there’s no telling where it came from. That’s why we maintain that these restrictions are nonsensical! Maybe the world will learn the US is not a dependable partner but a whimsical wannabe overlord.
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.
