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The Officials

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The Officials: Everyone’s favourite bromance is over!

05 June 2025: 16:30 BST

Trump’s phones are busier than a teenager’s as he calls his bros one after the other. Or are they rivals, despair not, a deal is in work or not. He first called Putin about the Russia/Ukraine war and today Xi to talk about the US-China trade war. Bessent said trade talks had stalled and stagnated and suggested the two biggest wigs should talk directly to iron things out. The call gave the market some good vibes and Brent flat price jumped to near $65.80 in the aftermath – it wasn’t just oil, either, as equity futures jumped on the news (though quickly sold off) and gold dropped some of its gains made in early trading.

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.
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