This week’s target price: $79-81/bbl
January 22, 2024
Mar Brent futures were seen supported over the last week amid uncertain fundamentals in the context of a still-raging conflict in the Red Sea.
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Report Schedule Update
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 Remains Bullish as WTI Flips Back to Bearish
January 22, 2024
Brent saw a continuation of bullish money manager positioning in the week to Jan 16, whilst WTI futures saw a change of heart, flipping to a more bearish stance after being seemingly bullish the week prior. Combined positioning saw an
Russia Takes Number 1 Spot as China’s Top Oil Supplier
January 22, 2024
The Brent futures flat price for the prompt contract has seen a relatively stable morning. Initial weakness saw prices dip below the $78/bbl mark, falling to $77.84/bbl at 09:00 GMT, before buying interest saw price action climb back to $78.71/bbl
LPGoing up or down ? (a Wu Friday edition)
January 22, 2024
This week we are going to look at some updates in the LPG market, where the market’s been shifting faster than a trucker on the last leg of a cross-country coffee-fuelled haul. It hasn’t exactly been smooth sailing in the
Wuthering Freights – I’m So Cold
January 19, 2024
These last two weeks in LNG: we have seen a lack of support despite freezing weather as most LNG benchmarks were seen weakening, with Mar TTF notably trading from €34/MWh on Jan 05 to €27.97/MWh on Jan 18. Storage is
Mar Brent futures reached above $79/bbl on the back of bullish EIA stats
January 18, 2024
The Mar Brent futures contract has been strengthening throughout the afternoon, reaching highs of $79.18/bbl at 17:20 GMT (time of writing). WTI also found strength throughout the day with the Mar contract trading at $73.04/bbl at 14:00 GMT and later
ICE, ICE, Baby
January 18, 2024
Brent futures found some relative stability this past week, indicating a lack of clear axe from both the bulls and the bears. Prompt Brent futures climbed to $78.29/bbl on Jan 12 and continued to settle in the following days around
Freights and Freezes: This week in LPG
January 18, 2024
First LPG Report – A key macroeconomic factor this fortnight has been the Texas freeze, which has not only increased LPG demand, but has also stymied production.
Brent below $78/bbl as EIA Stats Await
January 18, 2024
The Brent futures flat price for the prompt contract has seen a relatively quiet morning reaching highs of $78.43/bbl at 08:00 GMT, before falling to $78.01 at 08:25 GMT and then coming off further to below the $78/bbl mark, hitting
Prices up on escalation and down on a stronger dollar – Market Update, Jan 16.
January 16, 2024
Brent prices for the Mar tenor hit a zenith of $79/bbl at 13:20 GMT but were sold down to below $78/bbl by 15:40 GMT, ultimately climbing to $78.50/bbl as of 17:00 GMT (time of writing).
Forget Joshua vs Ngannou – Brent/Dubai Boxes the Biggest PuncherÂ
January 16, 2024
After a relatively rangebound week to Jan 11 for Feb Brent/Dubai, oscillating around the 30c/bbl mark, price action soared – rising over 80c/bbl in less than a week to reach highs of 102c/bbl on Jan 16. Jan 12 was the
Trade Ideas Tuesday
January 16, 2024
Onyx’s Research team brings you the usual speculative trades.
Brent Futures hit a $76.87/bbl low amid bulls taking profit
January 15, 2024
The Brent futures have been coming off overall throughout the day, reaching lows of $76.87/bbl at 13:00 GMT. The contract then retraced higher, trading at $78.14/bbl at 17:00 GMT (time of writing).
Brent Weakens Despite Houthi Missile
January 15, 2024
The Brent futures flat price for the prompt contract has seen weakness this morning, falling from highs of $78.62/bbl at 07:25 GMT to $77.80/bbl come 10:10 GMT. Following on the US and British forces launching airstrikes against the Houthi rebels
Fuel for Thought
January 12, 2024
A look into the financial flows and market fundamentals for this fortnight in fuel oil.