Please note that there will be a hiatus in the publication of reports between 22nd December and 2nd January due to the Christmas period. Reports will be published as normal from Monday 5th January 2026.
Brent skyrocketed from below $87/bbl at 01:25 BST on Apr 19 to flirting with $91/bbl just two hours later on the back of explosions heard from an Israeli strike on Iranian air space. However, resurrecting doubts regarding whether there is
The prompt Brent Futures contract saw a mixed morning, rising to a high of $88.48/bbl at 08:22 BST before seeing retracement and some consolidation around $88/bbl levels at 10:00 BST.
In addition to our regular Monday CFTC COT analysis report, Onyx Insight will publish its own in-house CFTC COT forecast ahead of the official Friday report. The model forecasts changes in long and short positions using machine learning, utilising Onyx’s
The Jun Brent futures flat price saw rangebound price action until 15:38 BST, when prices rallied to $88.70/bbl only to drop below $87.80/bbl at 16:10 BST.
The May LST/FEI Arb declined from approximately -$180/mt on Apr 10 to below -$198/mt on Apr 24, driven by weaknesses in LST and strengths in FEI.
The ICE Brent Futures contract has seen a slight correction down this morning, trading from $88.60/bbl handles around 08:00 BST to $88.10/bbl around 10:20 BST.
A choppy Tuesday for crude flat price as Brent came off from highs of $88.21/bbl this morning, coming off to lows of $86.06/bbl at 13:50 BST before steadily rallying to $88/bbl levels by 17:00 BST.
The May Brent/Dubai recorded a feeble fortnight amid prices coming off from a high of $1.10/bbl on Apr 12 to sub-zero territory less than a week later with the move downwards exacerbated by players stopping out of length.
This past fortnight has seen a rejuvenated naphtha complex in both regions, with Eastern structure the slightly better performer.
After a prolonged period of weakness following the first week of April, Dated structure staged a recovery from April 18 after finding the floor.
With another week comes a fresh slew of trade ideas by Onyx Research.
The prompt Brent futures contract has seen a mixed morning, initially trading sideways around $87.25/bbl before surging upwards to peak at $88.19/bbl at 08:30 BST and subsequently correcting back down to $87.07/bbl at 10:00 BST…
The Jun Brent futures contract continued to see choppy price action into the afternoon, predominantly oscillating within the range of $85.95/bbl and $86.80/bbl.
Technical indicators show that Brent futures saw RSI correct from the overbought territory whilst the Bollinger bands have maintained their width despite lower price action, indicating consistent volatility levels.
For the week to Apr 16, we saw contrasting positions adopted by money managers across the two benchmarks.
