MARTHA DOWDING
Research Associate, Flux
About Martha
Martha holds a degree in Chemical Engineering from Newcastle University and has over three years of experience at Flux. She specialises in light ends and is committed to building a comprehensive understanding of oil and refined products, alongside weather dynamics, biofuels, and petrochemical systems.
Posts authored by Martha
HSFO E/W at new all-time high, but VLSFO strength is slipping
Brent lower at $104 in shadow fleet relief rumours
Washington is weighing sanctions relief for Russia’s shadow fleet, alongside a 1.8-million-tonne Russian diesel purchase....
Freight Heavens!
Know how the market is positioned before it moves....
6 reports
As dry as a desert…
It was an extremely quiet week leading up to today. Over the past 4 days, we have really only seen the front Brent/Dubai move lower....
CFTC Weekly: Fund only ramping up risk in RBOB
Funds de-risked in Brent, WTI, Gasoil, and HO
13 page report
A Tale of Two Gulfs
Hormuz transits remain badly disrupted, with attacks on tankers at their highest weekly level since the war began.
14 page report
Waiting on China…
Know how the market is positioned before it moves. Onyx COT tracks speculative positioning and flows across oil swaps.
6 reports
Holding the Fort
We have seen a shift in paper flows otherwise, with notable selling in the 19-23 and 26-30 Oct vs Cal Nov rolls....
Accumulation
Poor liquidity in Dubai crude complex amid Chinese holiday; Brent/Dubai finds support at lows
Heads of Desk: Top of Mind – Episode 68
The heads of Onyx Commodities' trading desks discuss the latest in the Oil Derivatives as of 6 October 2026
Leading from the East
MOPJ spreads flip to the buy-side; M1 East/West reached $70/mt; scaleback selling in gasnap and FEI/MOPJ
17 page report
CFTC Weekly: Risk off
OI drops in crude and products, funds were bearish in Brent and WTI
13 page report