30 August 2024: 16:30 BST
Poor old Kennie. He was ready to go into the weekend and put his feet up with a nice cool beer, enjoying
yesterday’s gains. But then OPEC bear burst through the door and tore him to shreds with its news of
scaling back production cuts as of October. The North Sea was far less chaotic than Kennie’s living room.
Glencore offered a Midland at Dated +$3.15 for Sep 16-20 and Unipec withdrew its offer at +$3 for Sep
28-Oct 2 or Sep 26-30. No others were tempted, presumably wanting to get their weekends started early.
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.
