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.
The Brent futures flat price for the June contract has had a rangebound morning. Price action saw a small surge reaching $86.23/bbl at 09:15 GMT, before coming back down to just below the $86/bbl mark by the time of writing
Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft methods on Onyx Commitment of Traders (COT) and Flux Financials data.
The Jun Brent futures contract strengthened over the afternoon, climbing to $86.40/bbl at 14:50 GMT, but retraced to $85.90/bbl at 17:10 GMT.
For the week to Mar 19, the crude futures witnessed an atmosphere of bullishness from money managers.
Technical indicators for June revealed a week of consolidation and widening Bollinger bands. Brent’s RSI briefly entered overbought territory before coming off as prices corrected lower.
Oil prices registered some strength overnight on the back of support generated in the early hours of Asian trading with the Jun Brent futures climbing to $85.40/bbl at 03:20 GMT. The futures eased to $85.35/bbl come 09:20 GMT, but remain
The Brent futures flat price for the prompt contract has seen a relatively volatile morning. Price action initially held just below the $86/bbl mark, however, after reaching lows of $85.55/bbl at 08:45 GMT, prices found support to climb to $86.17/bbl
The May Brent futures contract is poised to end the week largely unchanged amid prices having coming off from $86/bbl at 13:20 GMT to $85.30/bbl at 17:20 GMT (time of writing).
The HSFO complex saw huge swings in price action which ultimately culminated in a softening of the East/West on fears of poor Chinese demand at these higher flat price levels (around $480/mt in the prompt 380).
The May Brent futures contract opened in the low $85/bbl handles this morning before witnessing support take prices to $85.75/bbl at 10:20 GMT (time of writing).
The May Brent futures contract weakened further to the $85.20/bbl handles at 15:00 GMT where it found support and printed $85.45/bbl at 17:20 GMT (time of writing).
Oil finally soared over $150/bbl as the US raced to fill up the SPR to 2022 levels… and then I woke up. It was a crazy couple of hours as traders asked themselves “What the hell does Jennifer Granholm mean?”
The May Brent futures contract has experienced a correction downwards this morning, opening around $86.50/bbl in the early hours of today before seeing selling pressure push the contract down to $85.75/bbl at the time of writing (10:00 GMT).
ONYX CFTC PREDICTOR – 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 May Brent futures contract continued spiraling downwards this afternoon with prices tumbling from $86.70/bbl around noon to $85.80/bbl at 17:15 GMT (time of writing).
