Reports

Industry-leading market insights. Get daily, weekly and monthly reports from Onyx Research, featuring expert analysis and interactive graphs. ​

Naphtha & Gasoline reports

Please note that these reports will now be published every Thursday.

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European Window: Brent Supported At $70.90/bbl

The May’25 Brent futures contract strengthened from $70.30/bbl at 1200 GMT up to $71.10/bbl at 1630 GMT, softening to $70.90/bbl by 1730 GMT (time of writing). EIA data released this afternoon for the week ending 7 Mar showed a smaller-than-expected

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Dubai Market Report – The Roll Down

The past two weeks saw rapid fluctuations in price action, reinforcing the high volatility regime that has marked Brent/Dubai since the start of the year. As OPEC+ confirmed their plans to proceed with its long-delayed production increase of 138kb/d beginning

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European Window: Brent Softens to $69.60/bbl

The May’25 Brent futures contract is on track for a daily gain, although it failed to maintain the strength from this morning, dropping from $70.20/bbl at 12.00 GMT to $69.60/bbl at 17.30 GMT (time of writing). The EIA now forecasts

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Naphtha report

Naphtha Report: Bull-ish?

The naphtha market has had a fortnight of two halves. The Apr’25 NWE naphtha crack weakened from an intraday high of -$2.46/bbl on 26 Feb to -$3.55/bbl on 4 Mar. Following this weakness, the contract rallied to -$2.55/bbl at the

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Onyx Alpha: Differential Dynamics

Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in gasoline, VLSFO, naphtha, and middle distillate swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and

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European Window: Brent Declines To $69.30/bbl

The May’25 Brent futures contract weakened from this afternoon’s high of $70.85/bbl at 1230 GMT down to $69.30/bbl at 1745 GMT (time of writing). Bearish sentiment surrounding the April OPEC+ output hike has kept crude oil prices pressured, in addition

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Technical Analysis report cover

Technical Analysis Report: A Bearish Regime

The M1 Brent futures contract has been under pressure since mid-January, from over $82.00/bbl on 16 Jan to open and close below $70.00/bbl on 06 Mar. This is the first time we have seen this since 01 Dec 2021. This

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CFTC Weekly: Risky Business

In the week ending 04 Mar, combined open interest (OI) across both Brent and WTI futures decreased for the first time in a month, declining by 17.7mb (-0.4%) w/w. We have continued to see traders deleveraging across the crude benchmarks,

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Brent Forecast: 10th March 2025

Uncertainty is the Only Certainty The front-month Brent futures contract fell from an open of nearly $73/bbl last Monday to an intraday low of $68.30/bbl on Wednesday. While prices found support there, they oscillated between $68 and $72/bbl for the

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European Window: Brent Ends The Week At $70.30/bbl

This afternoon, the May’25 Brent futures contract initially strengthened up from $70.30/bbl at 1230 GMT up to $71.40/bbl at 1530 GMT. However, these gains reversed, falling to $70.25/bbl at 1740 GMT (time of writing). Crude oil prices found support after

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