Naphtha & Gasoline reports
Please note that these reports will now be published every Thursday.
The Brent prompt contract has continued to retrace lower and was trading at a low of $72.37/bbl at 8:50 GMT. At 10:00 GMT (time of writing), it is trading at $73.04/bbl. The API announced an oil draw of 2.3mbbls. Across
Brent crude is now at its lowest since June 2023 as the fundamental picture continues to discourage market participants.
It’s Waterloo V2 as a French and British Major oppose each other for control of Dated. The physical is being supported by a French major, bidding the diff up to 24c, and with North Sea a more achievable target than
Brent futures saw a slight dip this morning, with the market opening at $76.61/bbl at 06:00 GMT and dropping to lows of $76.05/bbl at 08:30 GMT, prices then rose steadily to $76.32/bbl levels at 10:00 GMT. Today in the news,
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The Brent futures contract has been hovering around the $75.75/bbl handles throughout the day and at $75.73/bbl at 17:00 GMT (time of writing). Today, oil prices saw minor price action amid a wait-and-see market as the Fed is about to
With Brent futures reaching oversold territory for the second time in a month, we expect to see a resurgence of speculative long players waiting to buy at these cheap levels, yet the market saw limbo this week, as players await
The Brent futures flat price for the prompt contract has seen a sell off this morning, falling from highs of $76.48/bbl at 07:10 GMT to flirt with the $75/bbl barrier at 11:00 GMT, where it was only 2c above at
Both Brent and WTI futures saw bearish sentiment flood the contract in the latest CFTC data, with net positioning for both contracts decreasing by nearly 20% week-on-week.
Freight rates out of the US Gulf Coast fell 10c on the week, in turn weakness spread like the plague into JKM and most notably TTF contracts. Top news this week comes out of Australia, with Woodside Energy and Santos
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Prompt Brent futures have seen a rollercoaster of a week, if the rollercoaster in question was a ‘Drop-Tower’, as prices have come off
aggressively, plummeting to below the $75/bbl mark.
This year, the Panama Canal has been troubled by the lack of rainfall and severe drought, with recorded precipitation for October being the lowest on record since 1950. Water levels in Gatun Lake have continued to decline, and in response
And just like that the OPEC meeting came and went. Jan slipped to a low of -40c/bbl on Nov 30 following the meeting as Dubai bulls half-heartedly sold into the immediate aftermath, letting prices peak below the lower Bollinger Band.
As Onyx Capital Group expands internationally once more, we would formally like to introduce Mirko Ivanda and Ante Ivankovic as Co-Heads of Gas and Power based out of our new office in Zug, Switzerland. Onyx CEO and Co-Founder Greg Newman says he’s “very excited
