Naphtha & Gasoline reports
Please note that these reports will now be published every Thursday.
Brent crude futures are on track for another weekly loss. At the start of the week, we forecast the front-month Brent to be trading between $70-73.00/bbl, and Brent is supported above $70.50/bbl at the time of writing. Supply developments and
The Apr’25 TTF futures contract fell to its lowest level in five months this week, declining from €47.40/MWh on 21 Feb to an intraday low of just over €36.50/MWh on 7 Mar. The contract met support here and climbed to
The May’25 Brent futures contract climbed from $69.55/bbl at 06:55 GMT to $70.65/bbl at 10:55 GMT (time of writing). These gains may have come from players unwinding short risk ahead of the weekend due to rising uncertainty in the market
The May’25 Brent futures contract declined from $69.85/bbl at 1230 GMT down to $68.75/bbl at 1640 GMT, however, has found support up to $69.45/bbl at 1810 GMT (time of writing). This afternoon saw a spike in crude oil prices at
The M1 Brent futures contract has fallen more than $10 since mid-January and now sits at the lowest level seen since December 2021, trading at an intraday low of $68.50/bbl on 05 Mar. OPEC+ headlines on Monday (03 Mar) were
The May’25 Brent futures contract moved around $69.75/bbl overnight and softened slightly to $69.45/bbl at 10:47 GMT (time of writing). Asian stocks and currencies rose Thursday as China boosted fiscal stimulus and hopes grew for tariff rollbacks after the US
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 May’25 Brent futures contract has weakened this afternoon, trading from $70.20/bbl at 1200 GMT down to almost $68.35/bbl around 164 0 GMT, recovering to $69.10/bbl at 1740 GMT (time of writing). M1 Brent futures has now fallen to the
The May’25 Brent futures contract initially recovered from overnight lows of $70.60/bbl this morning, trading up to $71.10/bbl at 0730 GMT. However, prices have now reversed these gains, declining to $70.25bbl at 1050 GMT (time of writing). Bearish sentiment in
There is currently a divergence between sentiment in the physical and futures markets. The former has seen a strong performance with Totsa and Trafigura on the buy side of the physical. In contrast, Brent futures flat price and spreads were
The front-month Brent futures initially ticked up this afternoon, rising to $70.75/bbl at 14:10 GMT but dropped to a six-month low of $69.80/bbl at 15:05 GMT. The futures contract met support at this critical level and climbed to $70.80/bbl at
The front-month RBOB futures contract jumped from a close of under $2/gal on 28 Feb to $2.23/gal on 3 Mar due to the Feb’25 RBOB expiry on 28 Feb. The contract has since weakened to $2.17/gal at the time of
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in gasoline, naphtha, and fuel oil swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven
The May’25 Brent futures contract initially saw weakness this morning, trading from around $71.15/bbl at 0500 GMT down to $70.50/bbl at 0915 GMT, however, found support at $70.80/bbl by 1050 GMT (time of writing). Crude oil prices have seen bearish
For all the uncertainty in oil markets these days, which typically brings out the bulls, the Brent flat price declined throughout February to end the month at just over $73 /bbl, or circa $3 down from where it traded by
