High Sulphur Fuel Oil saw a fortnight of two halves. The 3.5% barge crack initially rallied on short covering flows in the prompt. However, prices quickly retreated from elevated levels, exacerbated by stronger crude. Aug’25 prices saw highs of -$0.50/bbl
The Oct’25 Brent Futures fell from $71.82/bbl at 13:42 BST to $69.63/bbl at 17:15 BST (time of writing). In the news, OPEC+ is expected to approve another oil output increase at their upcoming meeting on Sunday, though the size of
The Oct’25 Brent Futures contract rallied to $71.93/bbl at 08:31 BST before falling to $71.19/bbl at 09:17 BST. Prices have since recovered to $71.46/bbl at 11:10 BST (time of writing). In the news, Chevron will transfer part of its
The Oct’25 contract rallied to $72.19/bbl at 15:21 BST and fell to $71.03/bbl at 15:26 BST. Prices have since recovered to $71.83/bbl at 17:41 BST (time of writing). In the news, Indian state refiners have halted purchases of Russian crude
Brent finally broke above the hallowed $70/bbl level, printing at $72.75/bbl at the time of writing. It appears $73/bbl may be the new $70/bbl, with the contract meeting resistance at this handle throughout this week.
European naphtha flipped sharply from offered to bid this week following reports of Azeri crude contamination with chlorides, which rendered some barrels off-spec. BP and Eni have reported problems with the quality of Azerbaijani oil. In some batches of oil
The Sep’25 Brent Futures contract fell from $73.60/bbl at around 21:00 BST to $72.75/bbl at 11:12 BST (time of writing). The soon-to-be-prompt Oct’25 Brent futures contract similarly fell from $72.80/bbl to $71.85/bbl. Trump and Mexican President Claudia Sheinbaum are set
In the week ending 29 Jul, the M1 (Sep’25) Brent futures contract broke above the critical $70/bbl barrier, briefly surpassing the $73/bbl handle on 29 Jul, where it met resistance
International propane has been subdued for most of July, with C3 CP (Saudi Aramco Contract Price) leading the weakness. The Sep’25 C3 CP contract…
Brent futures rallied this afternoon, with Sep’25 at $73.35/bbl at 17.50 BST (the time of writing), from $72.53/bbl at 15.30 BST. Oct’25 reached $72.60/bbl at the same time. The EIA’s inventory report for the week to 25 Jul showed a
The Sep’25 Brent Futures contract rallied to $73.25/bbl at 08:46 BST before falling to $71.90/bbl at 11:15 BST (time of writing). The soon-to-be-prompt Oct’25 Brent futures contract similarly rallied to $72.21/bbl before falling to $71.07/bbl. In the news, an 8.8-magnitude
Brent crude futures softened initially this week, falling an open of $68.94/bbl on 22 Jul to find intraday support at the 100-day moving average, a level which dovetails with the uptrend from 30 May (white dashed line) on 23 Jul
The Sep ’25 Brent Futures contract rallied all afternoon to $71.14/bbl at 17:05 BST (time of writing). Similarly the Oct’25 Futures contract rallied to $70.40/bbl. In the news, the Indian owners of three vessels chartered to Russia-backed Nayara Energy have
It was a ‘return to usual’ for the Dubai crude market, characterised by a bearish Brent/Dubai and a bullish Dubai. The Aug’25 Brent/Dubai flirted with flat on 17 July, but subsequently came off quickly down to -$1.20/bbl, the lowest level
The North Sea physical differential initially climbed from $0.765/bbl on 22 Jul to $0.85/bbl on 23 Jul, although it finally weakened to $0.36/bbl on 28 Jul
