Naphtha & Gasoline reports
Please note that these reports will now be published every Thursday.
The Brent/Dubai complex saw a bullish shift with May’25 Brent/Dubai surpassing -$1/bbl for the first time since mid-March. In contrast to flat price, differentials were unresponsive to OPEC+ speeding up its oil output hike. The bullish catalyst was Aramco cutting
It has been a volatile week in the Dated Brent crude oil benchmark. The North Sea Dated Brent physical differential moved up from $0.575/bbl on 28 Mar to $1.07/bbl on 1 Apr amid more aggressive buy-side interest than expected. Into
The prompt Jun’25 Brent futures saw another volatile morning with prices dropping off to $63.69/bbl at 08:47 BST form $64.95/bbl around 08:00 BST. Prices have since slowly climbed back up to $64.46/bbl at 10:45 (time of writing).Russia’s central bank warned
The naphtha market capitulated at the start of the month, driven by a weakening Eastern complex. There was a correction from elevated levels as long positions in MOPJ were overcrowded. The sell-off comes amid concerns over US tariffs and a
One thing is certain in global markets right now: uncertainty. Oil, like other risk assets, has had to navigate troubled waters in March and early April with the trading environment considerably obfuscated by the lack of clarity relative to the
Front-month Brent futures stabilised this afternoon following the huge pressure it was under in the morning. The contract saw support just above $64.00/bbl at around 15:50 BST and was more supported at $65.40/bbl at 17:20 BST (time of writing). China
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in propane, and naphtha swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft methods
Brent: Catching a falling knife The impact of President Trump’s Liberation Day tariffs, announced on 2 April, came fast and furious, with Brent, alongside equity market indices, tumbling in a free-fall spiral. The scope of US retaliatory tariffs exceeded market
The Jun’25 Brent crude futures gapped down last night to $63.58/bbl. Prices dropped further to $62.54/bbl at 08:30 BST and then increased to above $63.60/bbl around 09:00 BST before falling again below the $63.00/bbl around 10:30 BST. There was some
In the week ending 01 Apr, money managers further accelerated their purchases of crude futures benchmarks (Brent and WTI). This was mainly driven by movements in Brent futures. Crude prices saw strength at the beginning of the month, with front-month
Front-month Brent futures stabilised this afternoon following the huge pressure it was under in the morning. The contract saw support just above $64.00/bbl at around 15:50 BST and was more supported at $65.40/bbl at 17:20 BST (time of writing). China
The sell-off in the Jun’25 Brent crude futures intensified on Friday morning, reaching another YTD low of $65.35/bbl at 11:40 BST (time of writing), having fallen by over $4 in the morning session. Goldman Sachs have lowered their Brent and
Liberation day! Players liberated themselves from the USD, the stock market, and oil ahead of the announcement, and markets dropped on opening on Thursday. The already-in-place USMCA in the Americas limited the real-world impact of this new barrage of tariffs
The front-month Brent futures contract weakened this afternoon, falling from $71.65/bbl at 12:00 BST to $69.60/bbl at 16:05 BST. While the contract has since recovered to $70.05/bbl at 17:10 BST (time of writing), we continue to see resistance at this
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
